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26.01.2015 10:50

Azerspace-1 to be self-subsidized starting from 2016 - minister

By Huseyn Veliyev – Trend:

Azerbaijan’s Azerspace-1 telecommunications satellite will be self-subsidized starting from 2016, the country’s Minister of Communications and High Technologies Ali Abbasov told reporters on Jan.17.

Currently, intensive work is underway on commercialization of services rendered with the help of the satellite, according to the minister.

“If the satellite operator repaid 50 percent of the attracted loans as of H1 of 2013, this figure has reached 75 percent today,” Abbasov said.

He added that the satellite will fully cover the expenditures from 2016 and start generating revenues.

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