Page "Galileo (satellite navigation)" Paragraph 12

The European Union and the European Space Agency agreed in March 2002 to fund the project, pending a review in 2003 ( which was finalised on 26 May 2003 ).

The starting cost for the period ending in 2005 is estimated at € 1. 1 billion.

The required satellites ( the planned number is 30 ) will be launched throughout the period 2011 – 2014 and the system will be up and running and under civilian control from 2019.

The final cost is estimated at € 3 billion, including the infrastructure on Earth, which is to be constructed in the years 2006 and 2007.

The plan was for private companies and investors to invest at least two-thirds of the cost of implementation, with the EU and ESA dividing the remaining cost.

An encrypted higher-bandwidth Commercial Service with improved precision would be available at an extra cost, with the base Open Service freely available to anyone with a Galileo-compatible receiver.

Costs for the project have run 50 % over initial estimates.