Azerbaijan, Baku, July 13 / Trend H. Valiyev /
The Azerbaijani Communications and IT Ministry agreed on the terms of the capacity leasing of the Azerbaijani first telecommunication satellite Azerspace, Communications and IT Minister
Ali Abbasov said at the Cabinet of Ministers' meeting on the socio-economic development, chaired by President Aliyev for the first six months, the official press reported.
The minister said that Azerbaijan intends to utilize more than 50 percent of the spacecraft resources.
Abbasov said that work on launching the satellite is proceeding according to plan. Azerspace will be launched during the fourth quarter of 2012, in accordance with the schedule.
The Azerbaijani Cabinet of Ministers, the Ministry of Finance, and the Space Council are involved in the financial component of the project and organizational issues.
The cost of manufacturing the Azerspace satellite is $120 million, 85 percent of which will be provided to the Azerbaijani side in the form of a US Ex-Im loan; the remaining 15 percent will be paid by state funds.
Azerspace's manufacturer is Orbital Sciences Corporation.
An orbital position of 46 degrees east longitude has been leased from Malaysian satellite operator MEASAT. French Arianspace will send the satellite into orbit.