By Lynne Roberts
Mubadala-owned Yahsat picks consortium to build satellite communications system.
Al Yah Satellite Communications (Yahsat) has selected a consortium made up of EADS Astrium, Thales and Alenia Space to build a Dh 5 billion dual satellite communications system.
Yahsat, a wholly owned subsidiary of the Mubadala Development Company - Abu Dhabi’s government-owned investment arm – was incorporated earlier this year. It will serve commercial and government clients in the Middle East, Africa, Europe and South-East Asia.
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.
Chairman and COO of Mubadala Waleed Al Mokarrab Al Muhairi said in a press release “we are seeing a boom in satellite demand and Yahsat is perfectly positioned to take advantage of the wealth of opportunities in our region.”
Final negotiations are under way, with a view to commence manufacturing as soon as possible, the company 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.