Singapore Telecommunications has signed a shareholders agreement to form a joint venture with Chunghwa Telecom to build the ST-2 satellite. This satellite is targeted to be delivered in 2010 and will replace the ST-1 satellite, which will be retired in 2011. Under the deal, SingTel will have approximately 62% share in the joint venture while Chunghwa Telecom will own the remaining 38%.
Bill Chang, SingTel’s Executive Vice President for Business, said: “The ST-2 satellite will offer significantly greater capacity than ST-1 and wider coverage to also include emerging markets such as the Middle East. We are well placed to meet the strong demand for fixed and mobile satellite services, including our innovative IP-based solutions, which are transforming the way our customers do business. Even before its launch, about two-thirds of ST-2’s capacity has been pre-booked.”
SingTel is Asia Pacific’s largest provider of fixed and mobile satellite solutions.