Azerbaijan fully repays loan obligations on Azerspace-1 satellite

Azerbaijan fully repaid loan obligations on its first satellite Azerspace-1 last year, according to the Ministry of Digital Development and Transportation of Azerbaijan.

The loan obligations in the amount of $116.6 million for the production of the satellite and $89.6 million for its launch (a total of $206.2 million) have been repaid, Reports informs.

To date, Azerbaijan's income from telecommunication and optical satellite services has amounted to more than 550 million manats ($323 million). The Space Agency (Azerkosmos) provides services to more than 200 clients from 50 countries in Europe, Africa, the Middle East and Central Asia through telecommunication satellites and space solutions.

Azerspace-1 satellite was launched into orbit on February 8, 2013, from the Kourou cosmodrome located in French Guiana (South America) by the French company Arianespace with an Ariane-5 launch vehicle.

The satellite is designed to provide broadcasting and telecommunications services, as well as to provide quality and stable communication platforms that meet the requirements of corporate and government customers. About 100 television and radio channels are broadcast via satellite. The service life of Azerspace-1 is at least 15 years.