DHAKA: A Google subsidiary is going to lease a NASA facility in California's Bay Area for $1.16 billion over the next 60 years.

The agency officials, regarding the matter, announced that Planetary Ventures, LLC will lease Moffett Federal Airfield (MFA), which is currently managed by NASA's Ames Research Center, and restore the facility's historic Hangar One, a huge building that has been a Silicon Valley landmark since the 1930s.

"As NASA expands its presence in space, we are making strides to reduce our footprint here on Earth," NASA Administrator Charles Bolden said in a statement.

"We want to invest taxpayer resources in scientific discovery, technology development and space exploration — not in maintaining infrastructure we no longer need. Moffett Field plays an important role in the Bay Area and is poised to continue to do so through this lease arrangement,” he added.

BDST: 1038 HRS, NOV 13, 2014