[SatNews] "Our Teleports made the Top 3 Teleports in the world at last week’s Awards in Washington DC"...

NewSat Limited (ASX: NWT), Australia’s satellite company announces the signing of a five year contract with a leading GCC (The Cooperation Council for the Arab States of the Gulf) company. The commitment is for the purchase of $US32.4 million of Jabiru satellite transmission capacity and covers the entire GCC region and parts of the Middle East.

For commercial and competitive reasons the customer details cannot be disclosed at this time and remain confidential.

In commenting on the multi-million dollar contract, Adrian Ballintine, NewSat Founder and CEO said: “Demand for satellite capacity continues to grow rapidly, particularly across the Middle East. Our customer has taken the opportunity to secure significant Ka-band over these high growth regions where satellite capacity is scarce.”

“The NewSat business continues to achieve major milestones. Our Teleports made the Top 3 Teleports in the world at last week’s Awards in Washington DC, and our Jabiru satellite project continues to secure significant pre-launch contracts. Jabiru has now accumulated US$558 million in pre-launch customer contracts and is scheduled for launch with Arianespace in 2014. Export credit debt financing continues to track to plan for Jabiru-1 and NewSat is now actively progressing further satellites, Jabiru-3, 4 and 5, as we utilize our eight premium orbital slots.”