Bolivia Agrees To Buy $300 Million Communications Satellite From China

By Shane Romig | Published December 13, 2010 | Dow Jones Newswires
BUENOS AIRES -(Dow Jones)- The Bolivian government has signed a contract with China Great Wall Industries Corporation, or Cgwic, to purchase a $300 million communications satellite, Bolivia’s state news agency ABI reported Monday.
The satellite, dubbed the Tupac Katari, after the Aymara Indian rebel leader in the late 1700’s, is expected to be operational within the next 36 months. The Bolivian government will pay $45 million for the satellite, with the rest financed by a loan from the China Development Bank, according to ABI.
The satellite will have a useful life of 15 years and will bring communications coverage to all of Bolivia, as well as neighboring countries, ABI said.
Cgwic was established in 1980 and is controlled by the government’s China Aerospace Science and Technology Corporation.
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