Cyprus Licenses Second OverHorizon Satellite
[Satellite Today 07-17-08] The government of Cyprus granted OverHorizon (Cyprus) PLC a second orbital slot, the government announced July 17.
OverHorizon, which has offices in Arlington, Va., and Solna, Sweden, was the only company to apply for the slot. OverHorizon plans to use the slot as well as one Cyprus granted the company in 2001 to operate small satellites to provide mobile broadband communications services. The company will use the slot for 20 years and pay Cyprus annual administration fees and a small percentage of the company’s revenues.
“I believe the agreement is balanced and gives OverHorizon enough time to start operations before it has to fulfill some financial obligations.” Communications Minister Nikos Nikolaides said in a statement. “At the same time the agreement ensures significant long term benefits for Cyprus. In addition to financial benefits, we give the opportunity to the people of Cyprus to access some new and innovative services. Also, this new company will be based in Cyprus, which means more job openings and the attraction of foreign investments and capital.”