ARABSAT reports revenues of US$60 million
Arab Satellite Communications Organization (ARABSAT), the leading provider of satellite communications to the Arab World, on Wednesday announced that its revenues last year reached US$60 millions. The company also announced it is canceling debts of the Palestinian TV satellite channel.
"ARABSAT is considered an example of Arab successful cooperation by all standards as it has accomplished services in the trade, economic and administrative fields through contributions of all Arab states," Syrian Minister of Communications Amro Salem said at a meeting for the ARABSAT General Assembly.
Khaled Ben Ahmad Belkhoyour, ASABSAT Chief Executive officer, said the Organization is going ahead in realizing profits and is implementing its strategic plans to own and run satellites. Arabsat launched its Badr 4 satellite late last year. However, Arabsat says Badr-4's satellite capacity will be fully sold out by mid 2007. The company, which maintains an integrated fleet of satellites covering all telecom services, has plans to launch another three satellites within the next year-and-a-half to keep up with the regional demand.