07:21 AM EDT, 08/29/2024 (MT Newswires) -- Amazon.com's ( AMZN ) subsidiary Amazon Kuiper New Zealand has won government approval to use a property in New Zealand for a satellite broadband project, the Overseas Investment Office said Thursday.

The approval for the acquisition of a leasehold interest of up to 20 years in a 500-square-meter site for Project Kuiper was granted by Land Information New Zealand on July 3, according to the agency's newsletter released Thursday.

Project Kuiper was described as "an initiative to launch a constellation of satellites to provide affordable broadband to customers in New Zealand and other parts of the world," the agency said.

Amazon ( AMZN ) will install and operate telecommunications equipment on the property, it added.

Amazon ( AMZN ) did not immediately reply to MT Newswires' request for comment.

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