Telesat Lightspeed: Canada, Quebec give billions of dollars for satellite production

By The Canadian Press on September 13, 2024.

MONTREAL – The Canadian government has announced a loan of $2.14 billion to satellite operator Telesat, to help the company build its broadband satellite constellation.

Quebec’s government, meanwhile, announced a loan of $400 million to the company, which has contracted aerospace technology firm MDA to build its satellites in Ste-Anne-de-Bellevue, Que., in the Montreal area.

Speaking to reporters today in Ste-Anne-de-Bellevue, Prime Minister Justin Trudeau said the Telesat Lightspeed Low Earth Orbit broadband satellite constellation will enable Canadians in the most remote parts of the country to connect with cheaper, more reliable internet.

A news release from the Office of the Prime Minister says Ottawa’s loan will help create 2,000 jobs in Canada.

Quebec Premier François Legault told reporters Telesat plans to create 967 jobs in the province.

Trudeau said Ottawa-based Telesat will invest $4.4 billion back into the Canadian economy through research and development.

This report by The Canadian Press was first published Sept. 13, 2024.

8
-7