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Agrani
Proposes Acquiring Satellite From Alcatel
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Agrani
Satellite Services Limited (ASSL) plans to launch a geostationary
satellite to serve television broadcasting and distribution
companies, internet service providers and other telecom service
providers.
The
company is seeking financial assistance from the Industrial
Development Bank of India (IDBI), and the subject will be addressed
at the bank’s executive committee meeting, scheduled for January
29. The total project cost has been estimated at Rs 1,150 crore. The
equity component of the project is Rs 460 crore, while the rupee
term loan is Rs 690 crore. The equity capital of Rs 460 crore is
proposed to be subscribed to by the promoters which include Subhash
Chandra and his associates (of the Essel Group - about 18 per cent
of the satellite's capacity is proposed to be utilized by companies
of the Essel Group), and other strategic investors such as Alcatel
and Arianespace. IDBI has been approached for a loan of Rs 350 crore,
while the balance is proposed to be tied up from other financial
institutions and banks. Originally the Agrani project was estimated
to cost Rs 3,000 crore. However the U.S. State Department's refused
to grant an export license for the Lockheed Martin satellite and the
Industrial Finance Corporation of India backed out of the deal.
Agrani
Satellite Services is proposing acquiring an existing
satellite from Alcatel Space Industries. The satellite was built in
1997 for use by Thailand’s Shinawatra Satellite. It was never used
and has been in storage for three years. The satellite, known as
Thaicom 4, will be renamed Agrani 2. It will carry 12 C-band
transponders for India coverage, 12 widebeam C-band transponders for
Asia coverage and 14 Ku-band transponders. Seven of the Ku-band
transponders will have a fixed India coverage, three will have a
steerable coverage over Europe, Middle East and South East Asia and
the remaining four transponders will be switchable between fixed and
steerable. These transponders have a total bandwidth of 1,404 MHz.
The
satellite will be ready for delivery in about 19 months. Agrani
Satellite Services has already selected Ariane 5 to launch
the satellite.
Subhash
Chandra is also an investor in ICO-Teledesic.
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