Azerbaijan, Baku, Oct. 12 / Trend H.Valiyev /
The Azerbaijani state budget for 2011 will allocate 83.3 million manat to finance the OJSC Azercosmos, Finance Minister Samir Sharifov said at the joint meeting of the parliamentary committees to discuss the draft 2011-state budget.
Azerbaijani President Ilham Aliyev signed a decree to establish OJSC "Azercosmos" under the Azerbaijani Communications and IT Ministry on May.3.
Creation of the OJSC has two objectives: to create a basis for the development and use of outer space for peaceful purposes and - use space for commercial purposes.
The OJSC's regulations and structure are expected to be approved by late 2010.
Under the presidential order, the Cabinet of Ministers has been tasked to ensure planning in the draft state budget for the next years appropriate resources for manufacturing and orbiting telecommunications satellite, building and construction in accordance with international requirements of the primary and backup centers of the satellite control with a condition of their return .
The Cabinet also requested to provide funding for the maintenance of the OJSC through the state budget and adopt the necessary measures for the allotment of the land for construction of primary and backup ground satellite control centers prior to launch of the Azerbaijani telecommunications satellite into orbit.
Azerspace is expected to launch in July-August 2012. The Orbital Sciences Corporation has already started manufacturing Azerbaijan's telecommunications satellite
Earlier, the ministry signed a long-term contract on leasing an orbital position for Azerspace with the Malaysian MEASAT satellite operator.
Azerspace will provide digital broadcasting, Internet access, data transmission, VSAT multi-service networks, and governmental communications.
The satellite will be equipped with 24 transponders C band and 12 transponders Ku band. It 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.
Azerbaijan's capital investment in the project is roughly 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 Azerspace will reach 495 million manat.
The received revenue will be spent on the country's technological development.
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