It will be a joint venture between the European Space Agency (Esa) and the European Organisation for the Exploitation of Meteorological Satellites (Eumetsat).
And from the perspective of our European cousins, they see these programmes as a marvellous way to leverage the money they put into the Eumetsat budget back to their country.
British industry was locked out of contracts worth many tens of millions of euros even though also as a Eumetsat member, the UK was still obliged to put hundreds of millions euros into the project.