Venezuela Invests US$140mn in Satellite Project in Jan-Sep

Venezuela's government invested US$140mn in its satellite project Simón BolÃvar in the first nine months of 2007 of the expected US$240mn, local telecoms regulator Conatel said in a statement.

The Simón BolÃvar satellite is to be launched in orbital position 78º West, which belongs to Uruguay. As part of the cooperation agreement, Uruguay will be entitled to use the satellite for investigation for telemedicine and teleeducation purposes.

According telecommunications minister Jesse Chacón, the satellite will enable the provision of telephony, high speed internet and TV services in isolated areas in Venezuela.

Chacón reconfirmed that the launch of the satellite is on schedule to take place in China next August.

Posted to the site on 18th December 2007