VDB offers credit for Vinasat 2 project

The Vietnam Post and Telecommunication Group (VNPT) have recently inked the credit-lending contract with Transaction Office No 1, Vietnam Development Bank for implementing the VINASAT 2 launching project.

Accordingly, the telecommunication group will get loans of 1.092 trillion dong from the state budget for realising the project, equalling to 20% of the project’s total investment capital.

Previously, the prime minister has already approved the project of launching the VINASAT 2 satellite into the earth’s orbit and assigning VNPT as the project’s main investor since December 2009. The group will be responsible for appointing the contractors for works of consulting, purchasing the satellite, making insurance for satellite and satellite launching services.

It was expected that in 2012, Vietnam will launch VINASAT 2 satellite into the earth’s orbit. The total investment capital for the whole project was estimated at US$280-300 million.

In May 2010, the national post and telecommunication group has also signed the contract of purchasing the satellite, equipment for controlling station and offering launching satellite launching services with Lockheed Martin Commercial Space System Co, under the US-based Lockheed Martin Group. – Dautu

Tags: Vinasat 2

Posted by VBN on Nov 8 2010. Filed under Technology. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry