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Galileo gets the go-ahead
Page 8
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4 Galileo, the European Commission's pan-European sati life navigation scheme, has finally been given the go-ahe with the EU Council of Transport Ministers releasing t 450m U2BOcnt needed to develop the project.
The move comes after months of disagreement amo member states about the cost of the project and a lack support from private investors.
The countries involved have also established a "joi undertaking" to oversee the project.
"This is good news and it shows the EU's capacity carry out an ambitious industrial project that will crea 150.000 highly qualified jobs and generate income of son 10bn (£6.1bn) a year" says EC Transport Commissioh Loyola de Palacio.
Galileo is the first satellite navigation and positionit system designed for civilian purposes. it will provide haullei with the ability to use navigational equipment to avoid col gestion and therefore predict and better manai journey times.