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Saturday, January 14, 2006

EU Space Agency to sign Galileo contract on Jan. 19

The surveilance industry is booming

PARIS (Reuters) - The European Space Agency will sign a contract next week with Galileo Industries that will bring the EU's Galileo navigation satellite closer to challenging the U.S. Global Positioning System (GPS).

The contract, worth 950 million euros ($1.153 billion), will be formally signed in Berlin on January 19, less than a month after the EU launched its first Galileo satellite, named Giove-A (Galileo In-Orbit Validation Element), ESA said on Saturday.

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