Angola to spend US$25.6 million in 2011 to begin construction of Angosat satellite

18 March 2011

Luanda, Angola, 18 March – The construction and launch of the Russian-built Angolan satellite will this year cost 10.6 percent of a total US$241.6 million attributed to the Ministry for Telecommunications and Technology by the Public Investment Programme, according to a report in the latest edition of weekly newspaper Expansão.

In 2012, the Russians will put a satellite into orbit for Angola, as was agreed during a visit to Angola by Russian president, Dmitri Medvedev.

Expansão said that funding of 2.3 billion kwanza (US$25.6 million) had been approved for the construction and launch of the satellite into orbit as part of the Public Investment Programme (PIP).

The construction, placing in orbit and operation of the satellite will be the responsibility of a Russian consortium led by Rosobon Export.

Installing the satellite will make it possible to provide international access, support and expansion of broadband Internet services, transmission to telecommunications operators and access to support for television and radio network services.

According to the Angolan weekly, Angosat is a project funded by Russian banks, specifically, The Foreign Development and Trade Bank, the Roseximbank and VPD, estimated at US$295 million.

In 2009, the then Angolan Finance Minister, Severim de Morais said that studies pointed to the project becoming profitable before the eight-year financing period was up. (macauhub)