Arabsat, Taqnia Space sign joint venture to build a new satellite for television, broadband, in-flight connectivity.
The Arab Satellite Communications Organization (Arabsat) and Saudi Arabia’s Taqnia Space have signed a joint venture agreement to manufacture Arabsat-6D, a satellite for broadcast, broadband and in-flight connectivity.
The satellite, which will be co-owned by Arabsat and the King Abdulaziz City for Science and Technology (KACST), is expected to launch in 2019.
KACST Chairman H.H. Prince Dr. Turki bin Saud bin Mohammed Al Saud said the strategic partnership between Taqnia, KACST and the region’s most prominent satellite operator is an example of the integrated industrial partnerships the kingdom values.
“The City and Taqnia Space will work together on this state-of-the-art satellite technology, taking advantage of all the potential provided by Saudi Arabia and [its] government in order to have a highly sophisticated and secured satellite telecommunication systems,” he said.
Khalid bin Ahmed Balkheyour, President and CEO of Arabsat, said: “Today’s agreement is the culmination of the strategic partnership between Arabsat, KACST and Taqnia Space, which started with satellite SGS-1, scheduled to be launched early 2018.”
Mr. Balkheyour estimated investments of more than USD 650 million for the manufacture, launch and orbit tests for both satellites.
Abdullah Al-Osaimi, CEO of Taqnia Space, said Arabsat-6D will meet the increasing demand for satellite services, particularly the provision of internet services, voice calls and TV broadcast on board aircraft.
Saudia Airlines, he added, will use the satellite’s services from early 2019 to provide broadband service for all its passengers.
Taqnia Space, a subsidiary of Taqnia Holding, aims to be the Middle East leader in satellite manufacturing, satellite communications and remote sensing for government and business use. Taqnia Holding, in turn, is the technology arm of Saudi Arabia’s Public Investment Fund.