The federal authorities is investing in satellite tv for pc within the north.
Chrystia Freeland, deputy prime minister, and François-Philippe Champagne, minister of innovation, science and business, made the announcement on Aug. 12.
The federal government is getting into a $1.44 billion agreement-in-principle with Telesat and investing within the firm’s low Earth orbit, Telesat Lightspeed.
The implementation of the agreement-in-principle would offer financing to Telesat by a $790-million repayable mortgage and a $650-million most popular shared fairness funding by which the federal government would get a dividend.
Telesat Lightspeed will place Telestat and Canada as “world leaders within the extremely aggressive marketplace for satellite tv for pc providers and the fast-growing new house financial system,” mentioned a press launch.
Telesat Lightspeed will allow broadband web and LTE and 5G connectivity in Canada beginning in 2024, connecting roughly 40,000 households in rural and distant communities.
This know-how will assist the federal government attain its purpose of connecting all Canadian households to high-speed web by 2030, together with many Indigenous communities all through the North and close to north that lack the connectivity required for social, financial and cultural prosperity.
“Creating distant entry to high-speed web is an important means for Yukoners and all rural Canadians to attach folks, to entry data, supply providers, and create alternatives,” mentioned Yukon MP Larry Bagnell.
“Right this moment’s announcement is about constructing a powerful future for Canada,” mentioned Freeland. “It strengthens our place as a worldwide chief within the applied sciences of tomorrow and helps make sure that all Canadian communities have entry to the vital infrastructure that’s high-speed Web.”
Telesat is a privately held Canadian-controlled company and one of many world’s largest and progressive satellite tv for pc suppliers. It has workers in 5 provinces and in Nunavut.
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