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Rediff News  All News  » Business » Euro 200 mn for EU space project

Euro 200 mn for EU space project

May 11, 2004 08:53 IST

The government is likely to contribute over euro 200 million equity in the European Union's Galileo project. Galileo, the euro 3.2-3.4 billion satellite navigation system, is being projected by the EU as a rival to the US' Global Positioning System.

According to senior European Commission officials, India's participation in the Galileo project was discussed at a meeting with senior Indian Space Research Organisation officials in Bangalore in March-end this year.

"The Indian government is expected to take a final decision on its equity contribution for the project by June," EC officials said.

Officials said it was not clear if India would have access to the Public Resource Signal, which was vital for certain commercial applications.

"Once, it is sorted out, a decision will be conveyed at the earliest," they told Business Standard.
P Vaidyanathan Iyer in New Delhi