China, Pakistan To Jointly Build $222 Million Satellite: NASDAQ

ISLAMABAD -(Dow Jones)- Pakistan said Friday its space agency will build a communication satellite jointly with a Chinese state-run company.

"The project costs $222 million," a statement from Pakistan's economic affairs division said.

China has agreed to fund this project with a 20-year loan, it said.

Pakistan Space and Upper Atmospheric Research Commission and China Great Wall Industry Corp. will jointly develop the PAKSAT-IR satellite in about three years.

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Pakistan’s new satellite PAKSAT-IR to be launched in 2011: APP

KARACHI, Aug. 24 (APP): Pakistan’s new and powerful communication satellite PAKSAT-IR will be launched in the year 2011.This was stated by the General Manager PAKSAT International, Amir Hussain, here on Monday.In a statement he said that the countdown has begun towards this launch and that its development work is progressing with full swing.

It was pointed out that the PAKSAT-IR will replace the existing satellite PAKSAT-I at 38 degree East, which will remain operational till the end of 2011 ensuring service continuity to current PAKSAT customers till PAKSAT-IR becomes operational.

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Pakistan To Launch First Satellite In 2011: Bernama

ISLAMABAD, Aug 18 (Bernama) -- Dr Samar Mubarakmand, a renowned Pakistani nuclear scientist said that Pakistan would launch its first space satellite in April 2011.

Talking to a private TV channel on Tuesday, Dr Samar said the satellite, likely to be sent into earth orbit, would monitor mineral and agriculture programs and weather conditions, reports China's Xinhua news agency.

He said this project is funded by the Pakistani Planning Commission and there is no scarcity of funds for nuclear and space projects of the country.

Dr Samar said the country's nuclear programme was not inferior to any other country in its standard and proficiency.

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