THE European Space Agency has run out of money for its planned Envisat
satellite and has told contractors to take out loans to cover the cost of
completing it.
The 拢1.3 billion environmental monitoring satellite is 10 per cent over
budget, and ESA鈥檚 member states have refused the agency鈥檚 requests for more
money.
A review of the Envisat programme, ordered in April by ESA members, reported
last month that 拢23 million could be saved on the project. To make these
savings ESA has accelerated the building of the satellite.
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As a result contractors need more money now, but because ESA cannot call on
its member governments for more funds it has told the firms to take out
loans.
ESA says it will repay the contractors next year when other programmes are
nearing completion.