Saudi Arabia is investing 1 billion dollars in Virgin Galactic, The Spaceship Company and Virgin Orbit

About Virgin Galactic, we wrote more than once. This is one of those companies that in the near future will create a new industry of commercial space tourism. Such flights are implementing the first year, but a separate branch, they did not.

But Virgin Galactic, Blue Origin and SpaceX will really change the situation. The companies are already investing in this trend billions of dollars developing new technology. And it is the interests of not only potential tourists.

As it became known, Saudi Arabia, the initiative to reduce dependence on oil, invested in Virgin Galactic, The Spaceship Company and Virgin Orbit (are part of the Virgin Group) of $ 1 billion, and an additional 480 million dollars can be invested a little later in the same transaction.

In a press release said that the Fund Public Investment Fund through which funds will be invested in Virgin Group, will receive a large share of the above three companies, but what, is not specified. Also under the deal, the partners will consider the option of operating in the future space center in Saudi Arabia.

Tags:
space
, Virgin Galactic

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