EU reaches agreement on Galileo funding
Posted: Sat, Nov 24, 2007, 9:06 AM ET (1406 GMT)
European Union member nations reached an agreement late Friday to fund the Galileo satellite navigation system after resolving concerns by one major nation about the distribution of contracts. EU finance ministers agreed to a proposal first announced this fall to use €2.4 billion (US$3.5 billion) in unspent agricultural subsidies on Galileo, filling a shortfall created when previous efforts to create a public-private partnership that would have paid for most of Galileo fell through. Germany had raised objections to the proposal both because of the precedent created by transferring unspent funds from one program to another as well as concerns that a single company could dominate the contracts that will be awarded for the system. EU officials did agree to divide the development of Galileo into six contracts and prohibit any one company from winning more than two of them. Germany still voted against the proposal, according to reports, but welcomed the revised bidding plan.
European Union member nations reached an agreement late Friday to fund the Galileo satellite navigation system after resolving concerns by one major nation about the distribution of contracts. EU finance ministers agreed to a proposal first announced this fall to use €2.4 billion (US$3.5 billion) in unspent agricultural subsidies on Galileo, filling a shortfall created when previous efforts to create a public-private partnership that would have paid for most of Galileo fell through. Germany had raised objections to the proposal both because of the precedent created by transferring unspent funds from one program to another as well as concerns that a single company could dominate the contracts that will be awarded for the system. EU officials did agree to divide the development of Galileo into six contracts and prohibit any one company from winning more than two of them. Germany still voted against the proposal, according to reports, but welcomed the revised bidding plan.
Related Links:
| <<previous article | next article>> |
|
news in brief
|
|
Roscosmos replaces cosmonaut on next Crew Dragon mission to ISS
Posted: Sat, Dec 6 9:45 AM ET (1445 GMT) |
|
news links
|
|
Sunday, December 21
Eutelsat OneWeb to deploy 340 satellites in Gen-2 push; eyeing ISRO for key launches
MSN India — 5:07 am ET (1007 GMT) Space Acquisition Leaders Concerned SBIR Lapse Could Hurt Innovation Pipeline
Air and Space Forces Magazine — 5:06 am ET (1006 GMT) Rocket Lab signs huge deal with US space agency
Radio New Zealand — 5:05 am ET (1005 GMT) Rocket Lab Successfully Launches for iQPS, Ends 2025 with 21 Launches and 100% Mission Succes
Rocket Lab — 5:04 am ET (1004 GMT) Wheelchair user makes historic Blue Origin spaceflight
KTSM-TV El Paso — 5:02 am ET (1002 GMT) |
