Azerbaijan will launch its space satellite

Baku has signed a contract with the Orbital Sciences Corporation from the USA for this company to produce and launch the first Azerbaijani telecommunications satellite. According to the contract the satellite should be built and launched by July-August 2012.

The estimated cost of this project will be USD 160 million. Of this 86-87 million will be spent on building the satellite and the rest on launching and the project insurance.

Azerbaijan is planning to use only 20% of the satellite's capacity and lease the rest. For instance, Malaysia has been offered 40% of the capacity of the satellite. The Azeri satellite will cover Europe (apart from Scandinavian countries), part of Asia and most of Kazakhstan.

The project is being developed on the personal order of the Azeri President to create and develop a space industry in the country and launch a telecommunications satellite into orbit.