OneWeb: Investment

Department for Business, Energy and Industrial Strategy written question – answered on 9th July 2020.

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Photo of Owen Thompson Owen Thompson SNP Whip

To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will publish the (a) business case and (b) risk assessment for the decision to invest in OneWeb.

Photo of Amanda Solloway Amanda Solloway Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

OneWeb holds a position as a global leader in Low Earth Orbit technology. This investment secures that leading position and signals the Government’s ambition for the UK to be a pioneer in high-tech satellite technology.

Due diligence has shown that the investment is going to be commercially sound and is likely to make an economic return. Our investment provides a stable platform for OneWeb’s development and unlocks a range of future commercial and strategic opportunities for the UK.

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