The Nicaraguan government is negotiating with Chinese Great Wall Industry Corp (CGWIC) to launch a US$300m telecoms satellite in 2016.
The satellite’s construction is set to begin in March 2013, according to local reports citing the Nicaraguan…
The Nicaraguan government is negotiating with Chinese Great Wall Industry Corp (CGWIC) to launch a US$300m telecoms satellite in 2016.
The satellite’s construction is set to begin in March 2013, according to local reports citing the Nicaraguan Institute for Telecommunications and Postal Services (Telcor).
The reports added that China will be funding the project, without giving details, and a firm agreement could be signed as early as October.
CGWIC and Telcor were unable to comment before the press deadline.
A spokesperson for PRONicaragua, the investment promotion agency of the Nicaraguan government, confirmed talks were taking place with CGWIC, but declined to disclose financial details.
As the trend of countries looking to operate their own satellites appears to show no sign of letting up, CGWIC has been increasingly striking such deals as a way of entering nascent markets. The Chinese group has recently secured similar agreements in Sri Lanka, Laos and Bolivia.
Nicaragua’s first satellite will reportedly be called Nicasat-1, and a number of Chinese banks are reported to have already offered the Nicaraguan government favourable interest rates.
CGWIC is not alone in its push to forge satellite contracts with aspiring space nations. Russian space agency Roscosmos has also been making a lot of headway in this area, and has most recently been linked with helping Armenia launch its first telecoms satellite.
Other countries working towards their first bird include Afghanistan, Bangladesh, Turkmenistan, Azerbaijan and the Ukraine.
