Karim Michel Sabbagh, president and CEO of SES. Photo: SES

[Via Satellite 01-13-2015] SES and the Luxembourg government have agreed to create a joint company that will own and operate an X- and Ka-band military satellite. Expected to launch in 2017, the spacecraft would cover Europe, the Middle East, Africa and the Asia-Pacific region from an orbital position in the European arc.

Both SES and the Luxembourg government will invest approximately $59 million each into the joint venture. The new company would also receive a bank loan worth approximately $148 million from a consortium of Luxembourg banks to fund the purchase and launch of the new satellite.

SES said this investment has been foreseen within the company’s existing capital expenditure projections. The multi-mission satellite will use high-powered, fully steerable spot beams to support a variety of operations. Capacity will be available to governmental and institutional customers for defense and governmental purposes.

“This new, ambitious public-private partnership demonstrates the importance of Luxembourg in the international space sector and the close and successful ties between SES and Luxembourg. SES fully acknowledges the importance of the Luxembourg government’s participation in this future enterprise,” said Karim Michel Sabbagh, president and CEO of SES.