A host of new deals were inked during IDEX 2021, many of which involved Tawazun Economic Council. Image Credit: AP

Dubai: UAE’s Tawazun Economic Council and the satellite company Yahsat are setting up a new company to develop “critical in-country capabilities” for advanced satellite communications.

The entity will develop capabilities in three core streams - aeronautical satcom technology, satellite modems and enablement of other satcom products. The first project entails development of a multi-platform satellite modem for government and defense sectors in the UAE and internationally.

“These partnerships are vital to the diversification of the UAE’s economy, and we are committed to supporting our UAE Investments’ portfolio companies as they contribute to our nation’s sustainable growth,” said Musabbeh Al Kaabi, Chairman of Yahsat.

Yahsat will ensure the new company’s hardware meets the requirements of government customers with a differentiated and targeted product strategy.

“In less than a decade since it launched its first satellite, Yahsat has grown to be one of the world’s leading satellite enterprises, with an enviable track record of accomplishments," said Tareq Al Hosani, CEO of Tawazun. "Our collaboration stands to gain tremendously from Yahsat’s expertise and connections.”