Azerbaijan invested 160 mln euros in satellite Azersky

Baku. February 18. REPORT.AZ/ Cost of the first orbiting satellite of Azerbaijan Azersky is 157 million euros.

Report informs the Minister of Communications and High Technologies Ali Abbasov told reporters about this at today's meeting of the European Club Khazar.

The Minister said that 15% of the cost of production and launch a satellite into orbit was paid by the Azerbaijani government and 85% - credit institutions: The project is cost-effective and the investments will be returned within 5-7 years.

A. Abbasov added that the satellite has been operating since 1 January: "It is mainly for export and foreign countries. A contract for 15-20 million euros already signed and this work will be extended".

On December 2  Azərkosmos JSC and France's Airbus Space and Defence signed a contract on transferring control of Earth observation satellite launched into orbit 3 months earlier to the Azerbaijani side.

This satellite is able to monitor any area of the earth's surface.