fb
SWF Summit 2022 - Banner

Luxembourg raises budget for Luxeosys satellite to €300 million

Paris, 23 November 2020. – Following heated debates, the Luxembourg Chamber of Deputies has voted an additional budget for its military observation satellite Luxeosys, the newspaper Wort reported.

The Grand Duchy’s Parliament also rejected to set up a committee of inquiry looking into the preparation of the project and the significant increase in cost.

The satellite was ordered from OHB Italy in 2018 by the former Minister of Economy and Defense, Etienne Schneider, for a budget of 170 million Euros. That budget nearly doubled since, and Parliament now approved a total of 309 million Euros.

The opposition criticized a hastily and incomplete preparation of the project.

Luxembourg sees the investment in Luxeosys as a contribution to fulfill its NATO obligations, as it does with LuxGovSat, a defense and security satellite that the Grand Duchy launched in early 2018.

Check Also

Space Café Radio – on tour in Berlin – with Lynn Zoenen

In this Space Café Radio -  SpaceWatch.Global publisher Torsten Kriening spoke with Lynn Zoenen, Principal at Alpine Space Ventures at the 19th ESA Investment Forum 2022 in Berlin on Space Investments in Europe. The ESA Investor Forum is a high-profile event for space-related investment opportunities and connects start-ups and scale-ups from the ESA network with European investors.