AMOS-8 Satellite to Be Built in Israel With Government Funding
The funding means that the AMOS satellites operator Spacecom will be able to withdraw from its $112 million deal with U.S. company Loral, which it contracted to build AMOS-8 in March
For daily updates, subscribe to our newsletter by clicking here.The funding means that the AMOS satellite operator, Israeli company Space Communication Ltd., known as Spacecom, will be able to withdraw from its $112 million deal with Palo Alto, California-based Space Systems/Loral LLC, which it contracted to build AMOS-8 in March in lieu of government aid.
In March, Calcalist reported that IAI needed government funding of $20.1 million (NIS $70 million) a year, over several years, to be able to secure the AMOS-8 contract, citing two people familiar with the matter who spoke on condition of anonymity. These people said that Spacecom’s deal with Loral was designed to pressure the government to provide the necessary funding for the satellite to be built domestically.