Insurance & Technology News
Azerbaijan to gain $420 MN from satellite exploitation
Feb 12, 2013 (Trend News Agency - McClatchy-Tribune Information Services via COMTEX) --
Profit at the amount of $ 420 million from use of the Azerspace/Africasat-1 satellite is expected, "Azerkosmos" told Trend on Monday.
Investments in the project hit $ 230 million. Around $120 million were invested in the construction of the satellite and satellite ground control stations. Around $ 93 million were spent launching the satellite into orbit and $ 17 million were spent on insurance of the spacecraft.
According to "Azerkosmos" forecasts, investments costs made in the project will be paid off over the next seven years.
Azerbaijan's income from launching the first Azerbaijani telecommunications satellite Azerspace/Africasat-1 for the next 15 years will hit $650 million during its orbit.
Today, Azerbaijan's annual expenses exceed $5 million to rent space in other satellites for broadcasting Azerbaijani television channels. These expenses will increase twofold in the coming years.
The Azerspace/Africasat-1 satellite will begin operating by the end of March. Contracts for the capacity lease will begin in May. At present, a preliminary agreement has been reached to sell 40 percent of the telecommunication satellite resources to the Malaysian satellite operator MEASAT. Azerbaijan's domestic needs for satellite capacity hit 20 percent.
The company examined the foreign markets and accepted the proposals of many countries to buy satellite space. Preliminary agreements were reached with some of them to lease satellite capacity.
"Azerkosmos" takes part in international exhibitions, talks with TV port companies, as well as works with local TV companies to provide them with the latest satellite technologies to reveal the opportunities for selling Azerspace-1 resources.
Do you have any feedback Contact our journalist at email@example.com
Tags: Azerspace/Africasat-1 satellite
___ (c)2013 Trend News Agency (Baku, Azerbaijan) Visit Trend News Agency (Baku,
Azerbaijan) at en.trend.az Distributed by MCT Information Services
[ Back To Insurance Technology's Homepage ]
UPDATED 2:35 AM EST - Jun 20, 2013
Subscribe to eNews
Insurance Technology eNews delivers the latest news impacting technology in the insurance industry each week. Sign up to receive FREE breaking news today!
Insurance Technology RSS