| Galileo Joint
Undertaking, the organisation leading European development
of a global satellite navigation system, has admitted
it is already €404 million ($513 million) over
budget, mainly due to miscalculating the cost of building
and launching two technology pathfinder spacecraft,
the first of which, GIOVE-A, was launched from Baikonur
Cosmodrome in Kazakhstan in December. The total budget
for the Galileo programme, which will comprise 30 operational
satellites, will be about €4.5 billion, of which
€1.5 billion has already been spent. Initially,
a foursatellite constellation of operational spacecraft
will be launched.
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