Europe considering all-public Galileo financing
Posted: Sat, Apr 28, 2007, 11:29 AM ET (1529 GMT)
Discouraged by continued delays in negotiating a public-private partnership, European officials are considering going ahead with the development of its Galileo satellite navigation system using entirely public funding. Galileo was originally planned to be financed by a mix of public money and private investment, with the company running the satellite system recouping its investment through service fees. However, negotiations between the EU and Galileo Industries regarding the partnership agreement have stalled. European officials, including the European Parliament, expressed "deep concern" about the stalemate and suggested that one alternative would be to rely exclusively on public funding for the system. No considering is being given to abandoning the project, according to European officials. Galileo's constellation of 30 satellites was once planned to be in orbit by late this decade, but will likely not be completely deployed until the early 2010s.
Discouraged by continued delays in negotiating a public-private partnership, European officials are considering going ahead with the development of its Galileo satellite navigation system using entirely public funding. Galileo was originally planned to be financed by a mix of public money and private investment, with the company running the satellite system recouping its investment through service fees. However, negotiations between the EU and Galileo Industries regarding the partnership agreement have stalled. European officials, including the European Parliament, expressed "deep concern" about the stalemate and suggested that one alternative would be to rely exclusively on public funding for the system. No considering is being given to abandoning the project, according to European officials. Galileo's constellation of 30 satellites was once planned to be in orbit by late this decade, but will likely not be completely deployed until the early 2010s.
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