Mubadala selects the preferred bidder to build AED 5 billion plus Yahsat satellites

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Notes and media contacts

For more information, please contact:
Salma Al Mansouri
PR & Communications Manager
Tel: +9712 4199338
Fax: +9712 449 4584

Al Yah Satellite Communications Company (Yahsat)
Yahsat is a telecommunications satellite project initiated and owned by Mubadala Development Company. The Yahsat satellite will serve commercial and governmental clients in the Middle East, Africa, Europe and South-East Asia. YahSat will operate as a commercial company to develop, procure, own and operate a hybrid communications satellite.

Yahsat business concept will be focused on addressing the terrestrial broadband coverage and will offer solutions for internet trunking via satellite, corporate data networks, backhauling services to telecom operators, and the broadcasting services.

Yahsat was incorporated in January 2007.

Mubadala Development Company is an investment and development vehicle established and wholly owned by the Government of the Emirate of Abu Dhabi. Its mission is to invest in commercially-viable, strategic, industrial and commercial partnerships.

The company manages a diversified portfolio of local, regional, and international investments. International investments include the Dutch fleet management giant LeasePlan Corporation (25% stake), and a stake in nine oil exploration blocks in Libya. Stakes are also held in the Swiss aircraft and engine services provider SR Technics (40%), the Italian luxury car manufacturer Ferrari (5%), and Piaggio Aero Industries (35%).

In the United Arab Emirates and wider Gulf region, Mubadala Development has invested in, and developed, a number of leading projects including the first GCC cross-border natural gas project, Dolphin Energy (51% majority stake), Aldar Properties, Abu Dhabi Future Energy Company (Masdar), Tabreed, Abu Dhabi Ship Building, Imperial College London Diabetes Centre in Abu Dhabi, Injazat Data Systems and the Mukhaizna Oil Field developments in Oman.

Mubadala Development signed a joint development agreement with Dubai Aluminium Company (DUBAL) to develop, construct, own and operate a USD 8-billion world class green-field aluminium smelter complex with 1.4-million tons capacity a year at the Khalifa Port and Industrial Zone in Abu Dhabi. Mubadala and DUBAL are also developing a US $5 billion smelter with a 700,000 tones capacity in Algeria.

Mubadala Development is also leading the development of the UAE University's new campus in Al Ain City through a public-private partnership initiative.
www.mubadala.ae