Vietnam’s Vinasat-1 insured for $147.4 million

The Hanoitimes -  Vietnam Telecom International (VTI), the operator of Vietnam’s first telecommunications satellite, has taken out a 2.8 trillion dong insurance policy o­n it against damages.

VTI director Nguyen Huu Khanh said that Vinasat-1 has been checked twice since it was launched in April 2008, and found to still meet technical standards.

In two years of operation, the 2.64 ton, Lockheed Martin-built satellite has provided services for big clients at home and abroad, including the Vietnam Television (VTV), Voice of Vietnam radio (VOV), VTC digital Television, telecom firms in Vietnam, Lao Telecommunications, Singapore’s Websat and Thailand’s Thaicom.

More than 80 percent of Vinasat 1’s capacity is in use.

Vinasat-2 is expected to be launched in 2012.

The idea to launch Vietnam’s own satellite initiated in 1995. In October 1998, the government approved the Vinasat pre-feasibility project. According to an initial plan, Vinasat would be launched in the second quarter of 2001 and be exploited in the fourth quarter of 2001. However, bid invitations were not released till mid 2003. o­n May 12, 2006, VNPT signed a contract with the US’ Lockheed Martin Commercial Systems o­n satellite manufacturing, launching, etc.

Finally, the satellite was launched o­n April 19, 2008 in French Guyana (South America) by French Arianespace Group, using an Ariane 5 missile.

The total value of Vinasat-1 is around $250 million. VNPT plans to recoup its investment within 9-10 years. The position in orbit of Vinasat is 132o east. Vinasat covers Vietnam, Laos, Cambodia, some Eastern Asian countries, India and Australia. It has a lifespan of 15 years.