Financing for Europe's GNSS, Galileo, will come solely from the public sector, the
European Commission declared, May 16, in Brussels. The public-private partnership
(PPP) that had crippled the ambitious project was abandoned. EU Transport Commissioner
Jacques Barrot said that the 27-nations bloc's biggest-ever joint technological project
could only reach orbit altitude if the public sector took full financial responsibility. He
made the announcement as he presented three options for the bogged-down Galileo
project: a complete EU takeover, partial public financing, or total elimination.
Barrot prefers to take over the project now, at an estimated public cost of about E2.4
billion in addition to the E1.5 billion already allocated in the 2007-2013 budget,
and to issue a new tender to operate the system once it is built and in space by the
end of 2012, according to recent forecasts. The European Space Agency would
oversee construction and deployment of the satellites, though European aerospace
companies would still supply technology, without assuming financial risk. EU
Industry Commissioner Guenter Verheugen ruled out cancelling Galileo. "Galileo is
from the European Commission standpoint an absolutely essential project," he stated.
"We don't have an option of giving up on Galileo." http://sidt.gpsworld.com |