NewSat signs $32M contract for Jabiru Satellite capacity

NewSat signs $32M contract for Jabiru Satellite capacity

Takes total binding pre-launch contracts to US$558 million

Satellite company, NewSat (ASX: NWT), has inked a $US32.4 million five-year contract with a Cooperation Council for the Arab States of the Gulf (GCC) company. NewSat declined to disclose the details of the customer for commercial and competitive reasons. The new contract takes the total of binding pre-launch contracts for Jabiru satellite capacity to US$558 million.

The contract outlines the purchase of $US32.4 million worth of Jabiru satellite transmission capacity and covers the entire GCC region and parts of the Middle East.

According to NewSat founder and CEO, Adrian Ballintine, the demand for satellite capacity is growing rapidly, particularly across the Middle East and its new customer has taken the opportunity in obtaining significant Ka-band over these high growth regions where satellite capacity is limited.

"Jabiru is scheduled for launch with Arianespace in 2014. Export credit debt financing continues to track to plan for Jabiru-1 and NewSat is now actively progressing further satellites, Jabiru-3, 4 and 5, as we utilise our eight premium orbital slots," he added.

Jabiru-1 is NewSat's first geostationary communications satellite that aims to provide high-powered satellite capacity to customers across government markets and enterprise segments such as resources and telecommunication service providers.

The company most recently signed a deal with Asian satellite operator, MEASAT and also inked a $US67 million, ten-year contract with a Middle Eastern telecommunications provider to carry out a strategic satellite partnership.

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