Insurer of Azerbaijani satellite launching project can be determined in 2011

Azerbaijan, Baku, Nov. 6 / Trend Akhundov /

Azerbaijani Insurance Company Pasha Sıgorta waits for a decision on choosing a local partner for the Azerbaijani insurance telecommunication satellite Azerspace, the CEO Nofel Rzayev told Trend.

The Azerbaijani Finance Ministry's State Insurance Supervision Service issued a license to insure space risks to Pasha Sigorta in March.

"We are not informed whether the Azerbaijani companies will participate in insurance of Azerspace satellite, but it would be good if they participate. It is clear that Azerbaijani companies can not bear such huge risks alone. It would be good to insure the satellite based on the partnership of leading insurers and Azerbaijani companies as the example of major energy projects. It is possible from potential point of view," Rzayev said.

According to him, the insurance package for this project should be purchased already in 2011.

"We are working on this issue with international insurers, reinsurers and the Communications Ministry. And yet the insurance companies having licenses to space risks have not been informed about the date of determination of the insurer. Apparently, it will be known closer to the implementation of the project. Ihe insurance package should be purchased in the future," Rzayev said.

The Azerbaijani Ministry of Communications and IT and Arianespace international company signed a contract on Friday to launch the first national telecommunications satellite Azerspace into orbit. The contract costs $93 million.

Azerspace will be launched in late 2012.

The tender announced by the Ministry to create rocket carrier, was attended by ILS, Arianespace, SpaceX and "Ukroboronservis"companies.

Arianespace is engaged in producing, exploitation and marketing the Ariane 5 rocket carrier.

To date, the ministry has signed a contract with the Orbital Sciences Corporation to produce the satellite. The ministry has also signed a long-term contract on leasing an orbital position for Azerspace with the Malaysian MEASAT satellite operator.

Azerspace is designed to provide digital broadcasting, Internet access, data transmission, VSAT multi-service networks, and governmental communications.

Azerspace will be equipped with 24 transponders C band and 12 transponders Ku band. The satellite will be placed in orbit at 46 degrees east longitude. The satellite's term is 20 years. Its service area will cover Europe, Central Asia and Africa.

Azerspace service zone will cover countries of Europe, Central Asia and Africa.

The implementation of the project will allow new space systems technologies to be introduced in the telecommunications and communications sectors, including the Internet access.

At present, Azerbaijan annually spends millions of dollars to rent foreign satellite transponders for communications and broadcasting. Launching a national satellite will cut costs. The payback period is about five-seven years.

Azerbaijan's capital investment in the project is approximately 319 million manat; 127 million will be spent on operating costs. The payback period is six years, and the income will reach 176 million manat.

The income from the satellite will reach roughly 495 million manat. Incomes will amount to 176 million manat.

Official exchange rate is 0.7997 manat to $1 Nov.6.

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