 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
Cyprus, Greece And Bulgaria To Launch Billion-Dollar Satellite
Athens - August 26, 2001 Cyprus on Thursday signed a memorandum of understanding with Greece and Bulgaria to launch a one-billion-dollar communications satellite in time for the 2004 Athens Olympic Games. Project managers are seeking to raise revenues by renting out the satellite's 37 frequencies to international broadcasters, with the satellite expected to be in orbit by the start of the Games in September 2004. "We're certain this venture will launch our country into the modern age of high-tech communications from which we can't afford to be left behind," Communications Minister Averof Neophytou said after signing the deal in Nicosia. Bulgarian Deputy Minister of Transport and Communications Zdravko Velichkov and his Greek counterpart Alekos Voulgaris co-signed the deal. "We will quickly set in motion procedures to attract satellite communications companies to exploit this tremendous opportunity," said Voulgaris. Velichkov for his part said the "memorandum opens the road to an important program that will strengthen ties between our respective countries." The Vatican is a potential partner in the satellite project, but has so far balked at becoming fully involved, adopting instead a "wait and see" attitude until it appraises the deal's benefits. "We need time to examine this, especially the commercial aspects," Vatican representative Pier Vincenzo Giudici told AFP. Cyprus, Greece and Bulgaria will each receive 10 frequencies, while the remaining seven are earmarked for the Vatican. Each frequency will be able to carry four digital TV broadcasts, mobile telephone and Internet connections. Neophytou said although the partners hope the Vatican will eventually jump on board, its seven frequencies will not be left idle if the Holy See finally opts out. The venture will be bankrolled by local and foreign private investors. It is the second satellite deal in less than a month which Cyprus has signed. On August 23, Cyprus and Greece signed an agreement to launch two satellites that will provide communications and broadcast services to a potential audience of 400 million people in 28 countries. The first of the two satellites, which will be operated by the Cyprus-based Hellas Sat Consortium, is expected to be launched by August 2002. All rights reserved. � 2000 Agence France-Presse. Sections of the information displayed on this page (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence, you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the content of this section without the prior written consent of Agence France-Presse. Community Email This Article Comment On This Article Related Links SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express The latest information about the Commercial Satellite Industry
Orbcomm's Equity Financings Complete
Bremen, Germany (SPX) Jan 06, 2006OHB Technology affiliated company Orbcomm has announced that it has completed equity financings totaling over $110 million led by Pacific Corporate Group (PCG), which committed $60 million. New investors, in addition to PCG, include investment firms MH Equity Investors and Torch Hill Capital. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2006 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA PortalReports are copyright European Space Agency. All NASA sourced material is public domain. Additionalcopyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
