Mexican Government Pays Boeing $1B for Three Satellites
Move is part of an effort to beef up the national security and telecommunications system.
MEXICO CITY -- The Mexican government has ordered three satellites from Boeing for about $1 billion in a move to beef up its national security and telecommunications system.
The Ministry of Communications and Transport (SCT) on Monday said this is Mexico's most important telecommunications investment in two decades. The new system, dubbed MEXSAT, will enhance nationwide coverage of fixed telephony, broadband Internet and wireless services.
The fourth generation of satellites will be launched over the next four years. Once in orbit, the satellites also will provide service for disaster relief efforts, social programs and telecommunications for remote areas.The SCT estimates it will pay an additional $400 million for launch services and insurance.
Boeing previously has provided five satellites to Mexico, two of which will cease service by 2012.