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FINANCIAL NEWS
Saudi signs USD650m deal to launch 2 satellites
02 May 2015
(MENAFN) Saudi and US Lockheed Martin and French Arianespace announced that they have signed deals to build and launch two new communications satellites, Arab News reported.
Investments of up to USD650 million would be made in order to build the new satellites, which will provide television, Internet, and telephone services for Riyadh-based satellite operator Arabsat.
The satellites will be built by Lockheed and then launched by Arianespace using its Ariane 5 rocket from the Guiana Space Center in French Guiana, president of King Abdulaziz City for Science and Technology (KACST) said.
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