The European Southern Observatory's governing body has agreed to proceed with detailed studies for a new, Extremely Large Telescope. The study alone has a budget of 57 million euros, and should lead to the beginning of construction in 3 years. If everything goes well, the ELT will become the world's largest telescope, spanning 42 metres. It will have 100 times more light-gathering capacity than the largest current telescopes. The final cost will probably be more than 800 million euros.
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