EADS Astrium, Thales Alenia Space to Build Arab Yahsat Satellite System
DUBAI, UAE, May 22, 2007 - Satnews Daily - Dubai-based Al Yah Satellite Communications (Yahsat) has selected the consortium of EADS Astrium and Thales Alenia Space to build its $1.7 billion dual satellite communications system.
Yahsat, a wholly owned subsidiary of the Mubadala Development Company, Abu Dhabi’s government-owned investment arm, will serve commercial and government clients in the Middle East, Africa, Europe and South East Asia. It was organized earlier this year.
Yahsat will develop, procure, own and operate a hybrid communication satellite system, and fill gaps in the existing satellite market. It will focus on providing solutions for Internet trunking via satellite, corporate data networks and backhauling services to telecom operators, as well as broadcasting services. Final negotiations with Astrium and Thales are under way, with a view to commence manufacturing as soon as possible.
Mubadala Chairman and COO Waleed Al Mokarrab Al Muhairi said Yahsat sees a boom in satellite demand and Yahsat is perfectly positioned to take advantage of the wealth of opportunities in the region.
"Thanks to the long-term vision of the Abu Dhabi government, we see Yahsat as equipped to become a leading player in the regional satellite market," he said.
The global commercial satellite industry generated over US$80 billion in revenue in 2005 alone, with the highest revenue growth in the Middle East and Africa.
