Signing a credit contract for Vinasat Satellite Project

Yesterday afternoon (December 11), Vietnam Industrial and Commercial Bank, Vietnam Post and Telecommunications Group and Vietnam Foreign Trade Bank signed a credit contract, sponsoring the project of Vinasat Telecommunication Satellite Launch.

VNPT's representative signed a credit contract with two banks of Industry and Trade and Vietnam Foreign Trade Bank.

This is an important project decided by the Prime Minister and established a national steering committee to be deployed and invested by VNPT. This project has a total investment of VND 3,854 billion, equivalent to USD 243,600,000, of which VNPT contributes 20%.

Industrial and Commercial Bank of Vietnam is the focal point to arrange capital together with the co-financing of Vietnam Foreign Trade Bank. Total loan is 146,160,000 USD, accounting for 60% of the total investment. Loan period is 12 years.

At the signing ceremony, Mr. Tran Duc Lai - Deputy Minister of Post and Telematics of Vietnam said: '' Vinasat is a national key project. This satellite not only strengthens the national information base but also makes sense to establish Vietnam's sovereignty over the position of orbit in the air. Under the direction of the Prime Minister, in any way, we will deploy how to correct on May 23, 2008, Vinasat satellite officially operated on orbit .

Hoang Hung