EC commits more funds to Galileo

The European Commission has pledged an additional €1bn (£6.6m) for its Galileo satellite navigation system.

The European Commission has pledged an additional €1bn (£6.6m) for its Galileo satellite navigation system.

The commission will provide two tranches of €500m to finance Galileo during its deployment and operational phases.

It has already pledged €130m for the deployment phase scheduled for 2006-2007.

The extra €500m for deployment brings the EU close to its target of raising €700m for that phase from public sector sources.

Private sector firms are supposed to provide the remaining €1.4bn needed for the deployment stage.

The second tranche of €500m is for Galileo's operational phase, due to start in 2008 and expected last for four years, after which the system should start generating its own revenue.

This amount is broken down as follows:

  • 2008: €200m
  • 2009: €150m
  • 2010: €100m
  • 2011: €50m.

Simon Taylor writes for IDG News Services

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