(MENAFN) UAE-based Yahsat has signed a contract with SpaceX to launch its two new satellites, Al Yah 4 and Al Yah 5, using the Falcon 9 launch vehicle in 2027 and 2028. This significant development, disclosed to the Abu Dhabi Securities Exchange on Monday, marks a crucial step in Yahsat's development program for these geostationary satellites. The entire project, which includes the spacecraft, ground infrastructure, launch, and insurance, has a total cost of AED 3.9 billion (USD1.1 billion).

As a subsidiary of Mubadala Investment Company, Yahsat has also signed a contract with Airbus to design and build the two satellites on the Eurostar Neo platform. This agreement is part of a broader AED 18.7 billion (USD5.1 billion) mandate granted to Yahsat by the UAE government in the third quarter of last year. Under this mandate, Yahsat will provide satellite capacity and managed services over 17 years, primarily through the Al Yah 4 and Al Yah 5 satellites. These new satellites are expected to provide secure government communications across a vast geographic area, including the Middle East, Africa, Europe, and Asia, replacing the current Al Yah 1 and Al Yah 2 satellites launched in 2011.

Additionally, it is notable that on April 25, shareholders of Bayanat and Yahsat approved a proposed merger between the two companies. This merger aims to create a leading entity in space technology supported by artificial intelligence in the Middle East and North Africa region, with the merger expected to be finalized in the middle of this year. 

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