Jakarta (ANTARA News) - Indonesia's second biggest telecom company PT Indosat said Monday it has secured loans worth 228.5 million dollars to finance its Palapa-D satellite project.
The loans were arranged by HSBC and consist of two 12-year export credit facilities and a nine-year commercial loan facility. Each facility carries a two-year grace period.
The new satellite will replace the existing Palapa-C2 whose operational lifetime will end in the first quarter of 2011.
In a statement, Indosat said the new satellite is being constructed by Thales Alenia Space of France and is scheduled to be launched in September 2009.
Palapa-D will be launched into space using the launching vehicle Long March 3B, manufactured by Beijing Talentway Technology Corp of China.
The new satellite will have a useful life of 15 years and will occupy the orbital slot currently occupied by Palapa-C2, Indosat was quoted by Thomson Financial as saying.
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