Vietnamese telecom incumbent Vietnam Post and Telecommunications (VNPT) has secured a VND1.09 trillion (US$56m) loan from state-owned Vietnam Development Bank, according to local reports.
The proceeds of the loan will be used for investment in Vinasat-2…
Vietnamese telecom incumbent Vietnam Post and Telecommunications (VNPT) has secured a VND1.09 trillion (US$56m) loan from state-owned Vietnam Development Bank, according to local reports.
The proceeds of the loan will be used for investment in Vinasat-2 satellite, covering about 20% of the total cost of the bird, estimated to be about US$280m.
Last June, it was announced that US aeronautical manufacturer Lockheed Martin had been contracted to provide Vietnam with its second telecommunications satellite.
The satellite is scheduled to be launched in the second quarter of 2012. Vinasat-2 will carry 24 Ku-band transponders that cover Vietnam, Cambodia, Thailand and Laos. It will be placed at the 131.8E orbital position.
Lockheed Martin built Vinasat-1, which was launched in 2008.
The satellite has seen high demand and is already more than 80% full. It is expected to be fully utilised by the end of 2011.
Also in June, Hoang Minh Thong, an executive at VNPT, was quoted by local press saying that the company was selecting insurance providers for Vinasat-2. The insurance cost for the bird was estimated to represent about 10% to 12% of the total investment capital, if true, this would be slightly above the average industry premium.
For Vinasat-1, VNPT signed principal insurance contracts, worth US$20m, with Bao Viet and Post and Telecommunication Insurance JSC (PTI) for launching and operating the satellite during the first operation year. The total insurance value was US$177m, according to Vietnam Business News.
