Posted: Fri, Oct 31, 2003, 7:31 PM ET (0031 GMT)
India will invest several hundred million dollars into Europe's Galileo satellite navigation project, European Union officials said this week. India will provide €300 million (US$350 million) to the project and gain an unspecified role in the project. An agreement finalizing India's contribution to the project is expected to be signed later this year. The announcement came Thursday at a ceremony where European and Chinese officials signed an agreement committing China to contribute €200 million (US$230 million) to the project; that agreement was first announced in September. Canada has also agreed to contribute to the project to a smaller degree. Galileo, scheduled to be operational in 2008, will compete with the existing American GPS satellite navigation system.

Related Links:

•  AFP article
•  Times of India article
•  Daily Telegraph article