EU approves funds to complete GPS projects

The European Parliament has approved US$9.5 billion in funding to further develop and complete Europe's satellite navigation programs, including the Galileo and EGNOS projects. The funding will cover the projects from 2014 to 2020 and will be spent on completion of the satellite navigation infrastructure as well as the development of fundamental components such as Galileo-enabled chipsets or receivers in smartphones.
November 21, 2013 Read time: 1 min
The European Parliament has approved US$9.5 billion in funding to further develop and complete Europe's satellite navigation programs, including the Galileo and EGNOS projects.

The funding will cover the projects from 2014 to 2020 and will be spent on completion of the satellite navigation infrastructure as well as the development of fundamental components such as Galileo-enabled chipsets or receivers in smartphones.

"The overall economic impact of Galileo and EGNOS is estimated to be around US$121 billion over the next twenty years," said Industry Commissioner Antonio Tajani. "In addition to the opening up of new business opportunities, everyday users will be able to enjoy increasingly accurate satellite navigation services with every new satellite launch."
Location Based Systems

Related Content

  • June 5, 2015
    Tolling is the 21st century’s road funding solution
    HNTB’s Rick Herrington and Brad Guilmino put the case for tolling. Tolling is becoming the 21st century solution of choice for generating additional user-based transportation revenue. The proven funding source is being seriously considered for expanded use by cities, states and even the federal government with support from elected officials across the political spectrum. In fact, with each federal transportation reauthorisation, tolling restrictions have been relaxed.
    Read More
  • December 19, 2014
    EU investment fund ‘important for transport’
    The new EU Commissioner for Transport, Violeta Bulc, said that the US$392 billion investment fund unveiled by President Juncker last week will have big significance for the transport sector. In a speech today to the Committee on Transport and Tourism at the European Parliament, Ms Bulc said that the new European Fund for Strategic Investment set up with the European Investment Bank (EIB) offers new opportunities to finance transport needs, particularly in urban mobility. “Investment needs in urban mob
    Read More
  • November 30, 2015
    AfDB approves funding for transport in Côte d'Ivoire, Mali and Tanzania
    The African Development Bank Group (AfDB) has approved two major transport support and facilitation programmes for Tanzania, Côte d'Ivoire and Mali. Tanzania will receive a US$75.43-million African Development Fund concessional loan and a US$270.95-million African Development Bank loan to finance its Transport Sector Support Programme, which involves interventions in the country's roads, rail and air transport sub-sectors. Identified as a key part of the country's transport sector priorities to suppor
    Read More
  • November 6, 2015
    EU to fund large-scale transport infrastructure
    The European Commission is taking further action to stimulate investment in Europe by launching the second call for proposals of the Connecting Europe Facility (CEF) with more than US$8.2 billion to finance key transport projects. US$7 billion is earmarked for projects in member states eligible for the EU Cohesion Fund, in order to better integrate these countries into the internal market. Along with the Investment Plan presented by the Commission in November 2014, and in particular the new European Fund
    Read More

Highlighted Content