New Hispasat announces investment plan -
Hispasat announces investment plan
Abertis Telecom’s investment in Hispasat will allow the Spanish satellite operator to itself invest in the next few years, according to Hispasat's president Petra Mateos (pictured, left). Abertis Telecom, which also holds the majority of the capital in French satellite operator Eutelsat, took a major stake in Hispasat the company becoming main shareholder earlier this year.
Mateos said: "We are willing to speed up our growth based on an important investment plan in Spain as in Latin America." The project includes three new satellites into which the company will put €500 million. This will double Hispasat's capacity in a three-year period. Also in a second phase, starting from 2012, the satellite operator will replace two of its present satellites in orbit via an operation costing around €400 million.