The government Wednesday signed a $250 million deal with French-Italian firm Thales Alenia Space in Dhaka to build the country's first communications satellite, officials said.
Thales Alenia Space will build the satellite called Bangabandhu-1 for the Bangladesh Telecommunications Regulatory Commission (BTRC) to be launched into space in 2017.
BTRC chairman Shahjahan Mahmud said the contract was worth Tk 19.51 billion ($250 million).
Junior telecoms minister Tarana Halim hailed the deal which would save Bangladesh coffers $14 million a year from renting transponders of foreign satellites.
"With the launch of Bangabandhu-1, Bangladesh will become the 57th member of the exclusive club of satellite-owning countries," Halim said at the contract-signing ceremony in the capital.
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