1-2 of 2 results for subject:OneWeb
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To ask the Secretary of State for Business, Energy and Industrial Strategy, what value for money assessment he has carried out on the Government's investment in the One Web satellite system.
To ask the Secretary of State for Business, Energy and Industrial Strategy, what value for money assessment he has carried out on the Government's investment in the One Web satellite system.
The Government carried out a detailed examination of the business which demonstrated a rational commercial case for investment. As my Rt. Hon. Friend the Secretary of State set out, even with substantial cuts to OneWeb's base case financial projections, the investment would have a positive return.
To ask the Secretary of State for Business, Energy and Industrial Strategy, how much funding the Government plans to invest in the OneWeb satellite system.
To ask the Secretary of State for Business, Energy and Industrial Strategy, how much funding the Government plans to invest in the OneWeb satellite system.
My Rt. Hon. Friend the Secretary of State confirmed that the Government will invest $500 million and take a significant equity share in OneWeb. This investment is made alongside Bharti Global Ltd. Bharti will provide the company commercial and operational leadership and bring OneWeb a revenue base to contribute towards its future success.