EU's Galileo Satellite system facing 1.9B shortfall

EU's Galileo Satellite system facing 1.9B shortfall: "

EU's Galileo Satellite system facing 1.9B shortfall Europe's ambitious Galileo Satellite system is an ambitious project between all member states which aims to secure Europe's technological future, and place it on a stable footing in an increasingly profitable market. However, having secured EU funding up until the end of 2014, Galileo has received no assurances for the future.It is estimated that €1.9 billion will be necessary for the 2014--2020 period to complete the Galileo infrastructure. The operational costs of Galileo and EGNOS together are estimated at an annual €800 million. These estimates are provisional and without prejudice to the future multiannual financial framework of the EU budget.

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