Satellite plan secures funds

An Australian company NewSat says it has secured funding to push ahead with its planned launch of a satellite by 2015.

NewSat, with facilities in Adelaide and Perth, says it has raised an extra $108 million for the Jabiru-1 communications satellite project.

The satellite is to support telephone and internet services for the oil, gas, mining and defence industries.

David Ball of NewSat said the project would create more jobs at its Mawson Lakes operation in northern Adelaide.

"We're looking to expand the Mawson Lakes facility with some additional land and we're going to put the Jabiru satellite control facility there and the Jabiru customer support centre on that location, so that'll be an increase in head count that will enable our team to operate the spacecraft through its life," he said.

"We already provide services to a number of clients who are related on the defence side.

"We'll continue to do that on our existing business through the teleport facilities, as well as expanding that on the new spacecraft.

Adelaide, and indeed Perth, will continue to be very important hubs for us for that part of the business."

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    0.9263-0.0024-0.26%
    AUDUSD=X
    0.5513-0.0022-0.39%
    AUDGBP=X
    0.6697-0.0024-0.36%
    AUDEUR=X
  • Commodities
    Commodities
    NamePriceChange% Chg