Techo 1 Communication Satellite Program, the first ever Cambodian satellite launching framework agreement, was officially signed on January 11, 2018 under the chairmanships of Prime Minister Hun Sen and Chinese Premier Li Keqiang.
The satellite launching program is the joint investment between Cambodian and Chinese company which is worth approximately $150 million.
The agreement has been signed by Kith Meng, Chairman and CEO of Royal Group and Hu Huaibang, Chairman of China Development Bank (CDB).
Tram Iv Tek, Minister of Posts and Telecommunication told Fresh News that this is the new achievement of Cambodia to modernize telecommunication sector.
“After signing the agreement, a working group will study and evaluate on the process of launching the satellite to the space. The working group will spend two years and six months to identify the location and set up the equipments for launching the satellite to the space. The satellite will be available for 15 years”, according to Tram Iv Tek.
The satellite launching program has been previously announced by Prime Minister Hun Sen during the launching ceremony of the building of Ministry of Posts and Communications in December 2016. At that time, the Premier urged Kith Meng to cooperate with other companies to boost the telecommunication sector and other related sectors in Cambodia.