The world's most powerful radio telescope project is to be shared between Australia and South Africa, the Square Kilometre Array's scientific consortium announced Friday.

"We have decided on a dual site approach," said SKA board chairperson John Wommersley at a press conference held at Amsterdam's Schiphol Airport, following a meeting of the SKA organisation's members in the Dutch capital.

The $2 billion 'Square Kilometre Array' (SKA), when completed in 2024, is to be made up of 3000 dishes, each 15 metres wide. The project is to also stretch over an area 3000 km.

The telescope is planned to be capable of scanning the skies 10000 times faster and with 50 times the sensitivity of any other telescope.

Scientists say it will be used to study the origins of the universe and will be able to detect weak signals that could indicate the presence of extraterrestrial life.

A joint bid between Australia and New Zealand to host the telescope has been up against competition from South Africa.

South Africa has been competing for almost a decade to host the SKA telescope in the Northern Cape province.