VND4.7 trillion insurance deal inked for Vietnam’s second satellite

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 signing ceremony between VNP and PTI, Bao Viet on March 17.

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.

Previously, VNPT also chose PTI and Bao Viet as the insurers for the Vinasat-1 satellite, with a VND3 trillion deal.

The Vinasat-2 project costs almost US$300 million, with VNPT being the owner.

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.

The Vinasat-1 satellite was launched in 2008. Around 90 percent of the satellite’s capacity has been used.

Vietnam will launch its second satellite, Vinasat-2, in the third week of April 2012 as scheduled, according to the Ministry of Information and Communications.

(Vietnamnet)

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