FINANCIAL NEWS

Euronext Paris to launch Qatari satellite

12 May 2010

(MENAFN) The Qatari Supreme Council of Information and Communication Technology said that it has signed an agreement with Eutelsat Communications (Euronext Paris) to launch and operate a new satellite, The Peninsula reported.

Qatar’s Prime Minister and Foreign Minister Sheikh Hamad bin Jasim Al-Thani told reporters after signing the deal, that the project’s total cost exceeds $300 million, noting that Qatar’s share in Eshail exceeds 50 percent.

The satellite is expected to be launched within two years via Ariane Eutelsat, which is the partner as agreed, the PM said, expressing hope the project would be the start of Qatar’s venture in this domain.

Sheikh Hamad furthermore said that Eshail is unique, because it adopts three-dimensional technology on its stations and will also include radio, heard by people worldwide who can pick up the satellite’s coverage, as well as the on the internet.

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