Kiev: Ukraine plans to launch its first telecommunications satellite in 2013, an official said.
"The satellite will be launched in the fourth quarter of 2013," head of the country`s State Space Agency Yury Alexeyev told reporters Friday, adding that the pay-off period of the satellite was between seven to eight years.
The project, which has cost $292 million, is financed with a 10-year loan from Canada, Alexeyev said.
He said that the satellite was being mounted in Russia`s southern city of Krasnoyarsk, reported Xinhua.
The satellite would be launched by Ukrainian missile "Zenit" at the country`s Baikonur Cosmodrome. It could offer telecommunications services for countries in Central Asia and North Africa.