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EU's Galileo sat-nav system's budget overruns continue, European Commission asks for an extra €1.9 billion
The European Commission has just completed its mid-term review of the EU's Galileo satellite navigation system and -- surprise, surprise -- they found that they need an additional €1.9 billion ($2.56 billion) to finish the system. This latest budget recommendation ups the cost an extra €200 million ($269 million) since the Commission's last report, and cites larger development and more expensive launch vehicles for the increase. The EU remains optimistic that Galileo will provide a financial windfall when completed -- but given its estimated €800 million ($1 billion) per year operating costs, constant delays, and competition from Russia, China, and good old-fashioned GPS, we're not so sure we agree.
Galileo sat-nav system back on the map, said to be 'up and running' by 2014
Remember Galileo, Europe's proposed GPS-like satellite navigation system? It's back in the headlines, and according to the Telegraph, UK-based Surrey Satellite Technology and Germany's OHB System have jointly secured €566 million (that's $815 million in US currency) to build 14 more satellites. The funding continues until 2013, whereby 22 satellites will be order. Full satellite navigation requires 27, and ultimately the European Union wants 32 technological waypointers. Launch date? Apparently 2014 -- we're hopeful, but this road has been wrought with delays before.
