Written question asked by Owen Thompson (Scottish National Party) on Monday, 13 July 2020, in the House of Commons. It was due for an answer on Thursday, 16 July 2020 (named day). It was answered by Amanda Solloway (Conservative) on Thursday, 16 July 2020 on behalf of the Department for Business, Energy and Industrial Strategy.
OneWeb: Investment
- Question
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To ask the Secretary of State for Business, Energy and Industrial Strategy, what due diligence the Government has undertaken to ensure that its investment in OneWeb is commercially sound.
- Answer
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This investment is likely to make an economic return, with due diligence showing a strong commercial basis for investment. The deal contributes to the governmentâs plan to join the first rank of space nations, and signals the governmentâs ambition for the UK to be a pioneer in the research, development, manufacturing, and exploitation of novel satellite technologies enabling enhanced broadband through the ownership of a fleet of Low Earth orbit satellites.
We expect revenue streams from 2022 in several areas including aerospace, maritime, government & military and Enterprise/business broadband.
Secondary information
- Type
- Written question
- Reference
- 72998
- Session
- 2019-21
- Related items
- Subjects
- Investment OneWeb
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2022-06-29 10:40:10 +0100
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/commons/2019-21/72998
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- http://indexing.parliament.uk/Content/Edit/1?uri=http://data.parliament.uk/writtenparliamentaryquestion/commons/2019-21/72998
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