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RUSSIA: JAPAN TO FINANCIAL MODERNIZATION OF RUSSIAN SATELLITES.(Russian Central Bank, Sumitomo Corp., Space Communications Co. agreement for financing of telecommunications satellite)(Brief Article)
IPR Strategic Business Information Database, January, 2002
The Russian federal company Space Communication, the Russian Central Bank, and Japanese financial group Sumitomo signed an agreement on financing for an $800 million project aimed at reviving Russian telecommunications satellites, "RFE\RL Newsline" reported. The project calls for Russia to launch seven advanced digital telecoms satellites between 2002 and 2005 which, with the help of Japan's NEC, will replace the aging Russian orbital fleet and provide Russian television viewers with over 100 new channels.
Communications Minister Leonid Reiman said that, with Tokyo's assistance, Moscow will not only considerably improve the technical elements of television broadcasting but also emerge on the global market for telephone and cellular services. (JMR) Copyright (c)...
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