Arabsat is one of eight companies that were honoured this year at the seventh annual CIPA International Investment Awards ceremony, which took place at the Presidential Palace in Nicosia, Cyprus on Tuesday, June 19, 2018.
The annual awards, from the Cyprus Investment Promotion Agency (CIPA), honour international investors, individuals and companies in recognition of their substantial contribution to the Cyprus economy.
Arabsat was chosen for this award due to its acquisition in 2013 of Hellas Sat, the owner and wholesaler of capacity and services of the Greek and Cypriot Hellas Sat satellites, for more than €200 million, and its subsequent multi-million euro investment plan for new satellites and infrastructure in Greece and Cyprus.
Khalid Balkheyour, President and CEO of Arabsat received the award from Nicos Anastasiades, President of Cyprus.
Speaking about the award, Balkheyour said: “ARABSAT accepts with great honour the CIPA award. The business environment and the strategic geographic position of Cyprus are the main factors for our successful operations. Since Hellas Sat became member of ARABSAT group, we have expanded our operations with the launch of HS3 satellite and the procurement HS4 which is expected to be launch at the end of 2018.”
Since 2012, a total of 54 CIPA International Investment Awards have been given to companies, organisations and individuals as a tribute for helping Cyprus to gain a reputation for excellence as an International Business Centre. They include organisations that have invested directly in Cyprus and created a value-added element for the economy, or established operations and provided employment in Cyprus, or provided services to international investors and helped to attract other foreign investors in Cyprus.
Add Comment