The Vietnam Post and Telecommunication Group (VNPT) have recently inked the credit-lending contract with State-owned, Vietnam Development Bank (VDB) for the VINASAT 2 project. Accordingly, VNPT will get a loan of 1.092 trillion dong from VDB, equivalent to 20% of the project’s total investment capital.

Previously, Government Prime Minister has already approved the project and assigned VNPT as main investor since December 2009. The group will be responsible for appointing the contractors for works of consulting, purchasing the satellite, making insurance and launching services. Vinasat-2 will be based on Lockheed Martin’s A2100 spacecraft platform and feature 24 Ku-band fixed high power communication channels, providing uplink and downlink coverage over Vietnam, Cambodia, Thailand and Laos from 131.8 degrees East, and officially operated in the second quarter of 2012.