The UAE Government has awarded a AED 909.5m ($247.5m) mandate to Yahsat Government Solutions to provide enhanced managed services for its satellite communications capabilities.
The agreement augments the previous operations and maintenance services provided, to include technology management support, from January 2022 until the end of 2026.
This mandate strengthens Yahsat’s long-standing relationship with the UAE Government, which dates back over a decade. Yahsat has been providing operations and maintenance services since 2011 on its first two satellites, Al Yah 1 and Al Yah 2, which form part of a 15-year capacity services agreement with the UAE Government. In 2021, Yahsat was requested by the UAE Government to explore two new satellites, Al Yah 4 and Al Yah 5, to be launched by 2026.
The mandate also adds to the group’s contracted future revenues which now stand at approximately AED 8.4bn ($2.3bn).
Commenting on the contract, Ali Al Hashemi, Group Chief Executive Officer at Yahsat added: “We are delighted to receive this mandate from the UAE Government to provide extensive managed services for their satellite communications capabilities. Today’s announcement validates our strategic approach to expand our offering across the value chain while enhancing our ability to provide end-to-end secure and critical satellite solutions and connectivity. This further demonstrates the strength of our relationship with the UAE Government, with whom we have had a strong partnership for over 10 years. It is a sign of confidence in our offering and lays even stronger foundations for future growth in our relationship. The mandate boosts Yahsat’s contracted future revenues to provide more visibility on the long-term financial outlook for the group.”
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