US-based Space Systems/Loral has won a $620 million contract that involves two satellites which will provide high-speed broadband to areas in remote Australia. The announcement was made just moments ago in Canberra by Prime Minister Julia Gillard, and Communications Minister Stephen Conroy, as well as NBN Co chief Mike Quigley.

Loral Space and Communications, a California-based group, will launch two satellites which will provide the high-speed Internet by 2015 under the national broadband network (NBN). If you didn't already know, the NBN Co is the federal government-owned enterprise who is in charge of rolling out fibre optic cable broadband to 93-percent of Australia's 13 million homes, schools and businesses by 2021.

If the fibre optic network is not available to you, the fixed wireless technology and satellite technology will be used to 4-percent of premises, and 3-percent of the remaining premises, respectively. Stephen Conroy said in a statement:

This will ensure high speed broadband is delivered to Australia's remotest towns, such as Calvert in the Northern Territory and Bandya in Western Australia.