Arabsat honoured by Cyprus President for Hellas Sat investment

Arabsat honoured by Cyprus President for Hellas Sat investment
Hilton Park Lefkosia CyprusThe President of the Republic Mr Nicos Anastasiades addresses the award ceremony for International Investment Awards of the Cyprus Investment Promotion Agency CIPA
Published: 21 June 2018 - 7:22 a.m.
By: Pranav Vadehra

Arabsat is one of the eight international companies/organizations to be honored during this year’s 7th annual CIPA International Investment Awards ceremony, which has taken place at the Presidential Palace in Nicosia, Cyprus on Tuesday, June 19, 2018.

The annual awards, from the Cyprus Investment Promotion Agency (CIPA), honour international investors, individuals and companies in recognition of their substantial contribution to the Cyprus economy. Since 2012, a total of 54 CIPA International Investment Awards have been given to companies, organisations and individuals as a tribute and a “thank you” for helping Cyprus to gain a reputation for excellence as an International Business Centre. They include organisations that have invested directly in Cyprus and created a value-added element for the economy, or established operations and provided employment in Cyprus, or provided services to international investors and helped to attract other foreign investors in Cyprus.

Arabsat has been chosen for this prestigious award due to its acquisition in 2013 of Hellas Sat, the owner and wholesaler of capacity and services of the Greek and Cypriot Hellas Sat satellites, for more than €200 million, and its subsequent multi-million euro investment plan for new satellites and infrastructure in Greece and Cyprus.

The award was handed by the President of Cyprus to Mr. Khalid Balkheyour, President and CEO of Arabsat who stated the following: “ARABSAT accepts with great honour the CIPA award and came to Cyprus to stay for a long time. The business environment and the strategic geographic position of Cyprus are the main factors for our successful operations. Since Hellas Sat became member of ARABSAT group we expanded our operations with the launch of HS3 satellite and the procurement HS4 which is expected to be launch at the end of 2018.”

Lockheed Martin is building Hellas-Sat 4/SaudiGeoSat 1 for Arabsat and Hellas Sat.

Operating a growing fleet of owned satellites at the 20°E, 26°E, 30.5°E, 39°E and 44.5°E, ARABSAT is the only satellite operator in the MENA region offering the full spectrum of Broadcast, Telecommunications and Broadband services. This capacity will continue to expand with the launching of new satellites, making ARABSAT satellites’ fleet the youngest in the region.

Arabsat also maintains strategic partnerships with most of the world's leading satellite companies and VAS integrators and with the acquisition of Hellas Sat, one of the leading telecom groups in southeastern Europe, cemented its position as one of the leading satellite operators in the world. Arabsat currently carries over 500 TV channels, 200 radio stations, pay-tv networks and wide variety of HD channels reaching tens of millions of homes in more than 80 countries.

Click here to add your comment

Please add your comment below
Your email address will not be published