The leading mobile satellite service provider, Iridium has ordered around 81 spacecraft for the up-gradation of its global network.

Thales Alenia Space of France has taken the responsibility to build those spacecrafts. This order of 81 spacecraft will make Iridium Next Venture the biggest commercial space project of the world. This deal worth 2.1 billion dollar has been signed under the French export credit guarantee organization named Coface.

The project is expected to have a total cost of 2.9 billion dollar. This would be paid from its own cash flow. Mr. Matt Desch, the chief executive officer of Iridium has informed in an announcement that the project is going to be a milestone in space science and spacecraft business. He has informed that the contract of making spacecrafts has given to Thales Alenia Space and the agreement has completed with a commitment of 2.1 billion dollar.

The company wants the work of building satellites to be started quickly so that they can launch their first satellite with in the first three months of 2015. The CEOA of the Thales Alenia Space has told that they were selected for this project after a huge competition which started in 2007. This company is situated at Virginia, US.