Greece and Cyprus signed on Thursday, August 23, an agreement to create a joint satellite operator, Hellas-Sat, which is to launch two telecoms satellites by 2004 at a cost of $250 million (€274.7 million), the Greek news agency ANA reported.
The joint company will bring together Greek telecoms operator OTE and Cyprus' AVACOM NET. Hellas-Sat is expected to launch its first satellite, manufactured by Boeing Sat Systems, on August 31, 2002, and the second on March 31, 2004, the semi-official agency said.
It said the deal was signed in Athens by Greek Transport Minister Christos Verelis and his Cypriot counterpart Averof Neophytos. ― (AFP, Athens)
© Agence France Presse 2001
© 2001 Mena Report (www.menareport.com)
