Amazon has unveiled plans to set up a network of more than 3,000 satellites in a bid to provide global internet access, as reported by GeekWire.

The project, called Project Kuiper, will require billions of dollars and is part of a race with several companies (SpaceX, Boeing, Telesat and others) that are seeking to be the first to launch a next-generation broadband network in space.

“Project Kuiper is a new initiative to launch a constellation of low Earth orbit satellites that will provide low-latency, high-speed broadband connectivity to unserved and underserved communities around the world. This is a long-term project that envisions serving tens of millions of people who lack basic access to broadband internet. We look forward to partnering on this initiative with companies that share this common vision,” an Amazon spokesperson told CNBC in an emailed statement.

The project was called after the late Dutch American astronomer Gerard Kuiper, whose last name signifies a belt of objects that include asteroids and dwarf planets.