The investment arm of the DTI is planning to invest $30 million in Singapore-based Kacific Broadband Satellites Group in exchange for shares in the company and a sizeable stake in the latter’s second satellite slated for launch in 2035.
Antonilo DC Mauricio, General Manager of the National Development Corp , said the amount would be distributed in this manner: $10-million equity in the company, $10 million for the Kacific-2 satellite, and $10 million in one of the company’s other joint ventures.Mauricio said they could get a frequency block, or dedicated satellite broadband capacity, as a result of the possible tie-up.
“These exclusively dedicated broadband capacities will enable the government to support its digital infrastructure rollout programs aimed to deliver connectivity nationwide and will further the country’s communication infrastructure capabilities,” Mauricio said in a message sent to the Inquirer.
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