The Vietnam Post and Telecommunication Groups (VNPT) has inked an insurance deal worth VND4.7 trillion ($224 million) for Vinasat-2, Vietnam’s second satellite.
The service is provided by two local insurers, the Post Insurance JS Corporation (PTI,) with 70 percent, and the Vietnam Insurance Group (Bao Viet), with 30 percent.
The Vinasat 2 project has total investment capital of $200-300 million, in which the bidding package of providing satellite, controlling station and launching services cost about $215 million, and the rest is to be used for other packages such as consultancy, insurance and project management cost.
The satellite is manufactured by American group, Lockheed Martin, using A2100A, one of the most modern satellite technologies in the world at present.
The launching of Vinasat-2 is scheduled on May 15, 2012, in Guiana (France), using an Arian 5 missile.