Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Spain commits €37.7 mln to giant telescope

Sun 1st Jun 2014
Spain commits €37.7 mln to giant telescope

Spain has announced it will invest €37.7 mln over 12 years in the world's largest telescope, currently under construction in Chile.

The so-called "European Extra-Large Telescope (E-ELT)" being built by the European Space Organisation (ESO) is 16 times larger than the Hubble telescope and is expected to cost more than €1.1 bln.

HOW MUCH ??

Spanish aeronautical engineering firms have placed bids for the telescope's construction, which could bring benefits of up to €130 mln back to the country.

Spain's Nation debt currently stands at an estimated €1,081 Bln : Is the €37.7 mln investment with a 'Chance' of quadrupling the stake a gamble worth taking - especially considering there are 14 other member countries - when the money could be put to much better use ?

Spanish aeronautical engineering firms have placed bids for the telescope's construction, which could bring benefits of up to €130 mln back to the country.

Only countries to have invested inthe ESO can apply, meaning Spain is almost certain to get part of the works.

Spain has been a member of the ESO since 2006, and contributes €11 mln per year towards the organisation's annual budget of €140 mln.

The E-ELT will be set on the Armazones hill in Chile, which stands at 3,060 metres above sea-level and will be created using the same technology as the 2nd-largest telescope in the world, based in the Canary Islands.

With a lens of 39 metres in diameter capable of capturing images with 13 times as much light as the largest telescopes currently in existence, as well as being able to correct distortions produced in the atmosphere, the optic and infrared telescope will be able to produce pictures with 16 times the clarity of those generated by Hubble.

Of the funds needed to build it, €300 mln will come from the ESO itself, €350 mln from Brazil and the rest split between the other member countries.

Recommended Reading :

* More than 3,000 Spaniards book one-way trip to Mars

Comment on this Story

 
And all this while Spain still has the worst record of child poverty in the western world.
Robster - Wed, 4th Jun 2014