The Nicaraguan government is reportedly in negotiations with Chinese satellite firm Great Wall, to purchase a USD300 million satellite, which the Central American nation hopes to launch into orbit by 2016. Sources familiar with the deal have suggested that an accord between the Instituto Nicaraguense de Telecomunicaciones y Correos (Telcor) and Great Wall, which has manufactured satellites for several Latin American, African and Asian countries, could be signed in October.
Speaking at a press conference in Nicaragua, the Chinese firm’s vice president He Xing, indicated that the device would be a third-generation satellite, capable of providing modern telephone, internet and digital television services for residents of Nicaragua and its neighbouring countries. The project, referred to as Nicasat-1, will cost approximately USD300 million, and a number of Chinese banks have already offered the Nicaraguan government favourable interest rates.