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APT Satellite, of Hong Kong, is linking with mainland Chinese investors to start building a global broadband satellite system.
APT already operates the Apstar broadband system which serves Asia and Australia clients. APT already has 4 satellites on order: Apstar-5C (which it co-owns with Telesat of Canada) and which will go to 138 degrees East when launched in early 2018. Apstar-6C is being built by China Aerospace Science & Technology (CASC), and which will go to 134 degrees East, and also due for launch in early 2018.
CASC is the majority owner in APT, and the fresh investment is going into High Throughput Satellites serving China and the Pacific Ocean region, Africa, the Mid-East, Southern Europe and Latin America.
The joint venture business is called APT Mobile Satcom and is 42.3 per cent owned by APT, 23.9 per cent by Beijing Shipping (itself a subsidiary of China Transport Telecommunication Information Centre), 14.1 per cent by Guo Xin, a subsidiary of investment company China Guoxin Trading. Other investors include Shenzhen Hao Chuang (14.1 per cent) and 5.6 per cent by Pang Lixin. The new business is capitalised at $214 million.