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 Satellite’s 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 it’s being held talks to reach 70-80% by the year-end”, Abbasov said.