ABU DHABI, July 8 (Xinhua) -- Thuraya, a satellite telecom firm in the United Arab Emirates (UAE), will launch its third satellite into orbit on Oct. 15 to expand its capacity and coverage area, local newspaper Khaleej Times reported on Sunday.

The new satellite will be launched from the equator in the Pacific Ocean, the nearest landmass to which is the Christmas Island in the Indian Ocean, the company's chief commercial officer Sultan Al Ghafli was quoted as saying.

Built by Boeing Satellite Systems, the five-ton satellite costs between 150 million to 200 million U.S. dollars.

Thuraya will sign service provider (SP) agreements with a telecom company in Australia this month to provide ground services to mobile phone subscribers via the new satellite, Al Ghafli said.

The company expects to sign more SP agreements with companies in the Philippines, Thailand, Malaysia and Indonesia by the end of the year, he added.

Established in 1997, Thuraya launched its first satellites from the Pacific Ocean in 2000 and the second in 2003.

The Abu Dhabi-based telecom company currently has a share of some 26 percent in the global mobile satellite market, providing mobile satellite services for over 110 nations and regions across the Middle East, Europe, Africa and Asia.