SIRIUS Satellite Radio has entered into an agreement with Space Systems/Loral for the design and construction of a new satellite that will be one of the most advanced and powerful communications satellites ever built.
Construction of the satellite is expected to be completed in the fourth quarter of 2008.
SIRIUS plans to launch the satellite on a Proton rocket under a contract previously announced between SIRIUS and International Launch Services (ILS). The satellite will be launched into a geostationary orbit to complement SIRIUS' existing three satellites currently operating in a highly elliptical geosynchronous orbit. This unique hybrid constellation will provide unparalleled redundancy, enhanced coverage and exceptional performance.
The aggregate cost of designing, building, launching and insuring the launch of the satellite will be approximately $260 million. As part of its commitment to SIRIUS, Loral has agreed to provide a $100 million vendor financing facility.
Leave a comment