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19.07.2013 11:35

Loan taken for Azerspace-1 project to be returned prematurely

Baku. Aynur Aliyeva APA-Economics. All calculations for provision of profitability of launch of Azerspace-1 into orbit were made within the project stages. Cost of the project together with the surface stations makes $230 mln, said the Minister of Communication and Information Technologies Ali Abbasov.

According to him, the incomes of the project during 15 are planned to exceed $600 mln.

The Satellites incomes till May made $4.2 mln and the loans are being repaid. THE loan can be returned during 7 years, while its period was 10 years. I think 50% of the project has already been sold and its being held talks to reach 70-80% by the year-end, Abbasov said.

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