iNavSat consortium delivers final offer to Galileo Concession
26 January 2005
The iNavSat consortium today delivered its final offer to the Galileo Joint Undertaking (GJU) to become the Galileo concessionaire, deploying the Galileo satellite constellation, integrating EGNOS and operating all subsequent services. The consortium was chosen in October as one of the two final bidders. The preferred bidder is expected to be announced in February 2005.
The iNavSat offer is based on a through technical due diligence in the light of user and market demands, which are complemented by the background and know-how of over 40 international iNavSat partners. They have contributed valuable experience in their given fields of expertise (e.g. automotive, telecommunication, information technologies, Safety of Life applications) to the successful commercial implementation of Galileo.
The iNavSat financial proposal has been approved by 8 European leading banks, with some willing to contribute equity to the iNavSat investment. The iNavSat offer minimises public sector contribution over the 20 year concession period.
The iNavSat risk mitigation and insurance scheme, which has been approved by leading insurance companies, secures sustainability of the Galileo Programme over the concession period The iNavSat consortium will take full responsibility for system deployment, operation and performance after completion of the in-orbit-validation phase.
The iNavSat consortium was founded by EADS Space, Inmarsat Ventures and the Thales Group, who are the respective European market leaders in the fields of aerospace, mobile satellite communications and navigation-based products and services. Together they bring an unmatched array of experiences and skills to the Galileo Programme.
Galileo is a European Union project to develop a new advanced satellite navigation system, more advanced than existing satellite navigation systems. The winning concessionaire is expected to take the lead in arranging private financing of the deployment and operational phases of Galileo, and ultimately would become the Galileo Operating Company.
The Galileo programme marks a clear step forward for Europe. It is the first major European-level infrastructure procurement programme with a global dimension. It is also the first major Public Private Partnership (PPP) at a multinational level and will bring numerous benefits to Europe; notably the opportunity to demonstrate how government and industry can cooperate to achieve both market and policy success.
About EADS Space Services
EADS SPACE Services is committed to providing and developing satellite services in the area of telecommunications and navigation. EADS SPACE Services is a wholly owned subsidiary of EADS SPACE, which is dedicated to providing civil and defence space systems. In 2003, EADS SPACE had a turnover of '2.4 billion and 12,000 employees in France, Germany, the United Kingdom and Spain. EADS is a global leader in aerospace, defence and related services. In 2003, EADS generated revenues of ' 30.1 billion and employed a workforce of more than 100,000.
About Inmarsat Ventures Ltd
Inmarsat Ventures Ltd is a leading provider of global mobile satellite communications services. Its services include voice, fax, intranet and internet access and other data services used by multinational corporations, government agencies, media and international aid organisations and other enterprise level users in the maritime, land and aeronautical sectors.
Eads - Rémi Roland - Tel.: +33 (0)1 34 88 35 78
Inmarsat Ventures - Chris McLaughlin - Tel : +44 (0)20 7728 1015 - GSM: +44 (0)7796 276 033
Thales - Verena Adt - Tel.: +33 (0)1 57 77 86 26
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