A Jordanian and Kuwaiti firms' alliance is to set up the region's first private satellite company at Dubai Studio City at a cost of $500 milllion.
The Arab world's first private satellite, called SmartSat, will deliver internet services using satellite technology and will serve the Middle East and North Africa (Mena).
Customers are expected to include internet service providers, mobile phone operators, broadband solutions suppliers, television stations, communication ministries, military agencies, and companies dealing with data systems.
"SmartSat aims to become a leading global private satellite service provider and it is keen to provide high-quality services at competitive prices," Emirates Business reported Tuesday.
SmartSat will contribute significantly to the enhancement and development of the satellite sector in the region, the report said.
SmartSat is a joint venture between Smartlink, a Jordanian private shareholding company, and a leading Kuwaiti investment holding company that will be the project's financial advisor.
Smartlink, a broadband satellite services provider with offices in Jordan and the UAE, will operate the project as managing partner.
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