Telesat nearer financing satellite network after Canada investment

OTTAWA :Telesat took a major step toward financing its low earth orbit satellite constellation aiming to provide high-speed broadband after Canada on Thursday said it would invest CUS$1.44 billion in the project.

Telesat has said it needs US$5 billion to launch its satellite network. The latest investment means it has about CUS$4 billion. That includes about CUS$1.7 billion of its own cash and a CUS$400 million investment from Quebec. Telesat's 298 LEO satellites will operate 36 times closer to earth than traditional ones, taking less time to send and receive information and leading to fibre-optic speed broadband even in Canada's isolated far north.

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