Facebook has reportedly abandoned its ambitious plans to provide consumers in emerging markets with internet via satellites after the cost of the project spiraled out of control.

The plan, which had not been announced before today, would have seen the social network attempt to provide cheap internet access in a variety of emerging markets, but the estimated $500m (£326m) cost of the satellite was judged to be too high, leading to the project being dropped before any official announcement.

According to The Information, the projects total price tag could have risen as high as $1bn, and Facebooks abandonment of the project follows similar moves by Google that have seen both companies turn away from satellites as a cost-effective way of spreading internet adoption.

While Facebook may have abandoned its satellite plans, it still has numerous projects in place that are aimed at bringing new areas of the world online. The companys Internet.org initiative has brought a variety of services to areas where connectivity is poor or unreliable, although has been criticized for prioritising getting people onto Facebook over providing more essential services.

Similarly, the social network recently released Facebook Lite, a data-light version of its Android app designed for use in emerging markets where data is more expensive or limited.