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Loan To Access New Computers And Other Equipment / Nigerian-built Satellites For Launch In October / I Teach You How To Build An Inverter With With The Battery Charger And How To Build The Transformer. (1) (2) (3) (4)
|Nigeria Seeks $500m Loan To Build New Satellites! by kosovo(m): 6:26am On Dec 01, 2008|
The management of NigComSat Limited has appealed to the House of Representatives Commi-ttee on Science and Technology to prevail on the Federal Executive Council (FEC) to approve the utilisation of $500 million (N59 billion) concessionary loan for the construction of NigComSat 2 and 3 advanced series.
The loan, according to the firm, would come from the China Exim Bank. The appeal follows the final confirmation of the loss of the N40 billion NigComSat-1.
The two proposed facilities will serve as back-ups to the construction of a NigComSat-1R meant to replace the lost satellite.
Managing Director of the firm, Professor Ahmed Rufai, disclosed this recently while briefing members of the House Committee. Rufai, who said NigComSat-1 had become “irreparably damaged” and therefore flown out of orbit, added that given the importance of the facility, there was need for its urgent replacement and the construction of back-ups.
He also urged the House to assist the Federal Ministry of Science and Technology and NigComSat Limited in convincing FEC to approve the bulk purchase of bandwidth under a Back-Up Services Agreement with an alternative satellite operator who has a satellite as powerful as the collapsed NigComSat-1.
According to him, NigComSat remains optimistic on the future and potential of the project despite the temporary setback being experienced in the implementation of the nation's satellite project. He said the current experience of the loss of the satellite was neither uncommon nor bizarre in the industry, adding that on the same day NigComSat-1 crashed, a private satellite operator recorded six failures on six satellites.
He debunked claims that the facility failed because of the use of inferior components and the speed at which it was installed during the twilight days of the Obasanjo regime.
The NigComSat boss also allayed fears on the status of the facility in terms of insurance, stressing that NigComSat-1 was fully insured to the tune of 112 million euros by renowned international underwriters with proven integrity and in accordance with industry standards.
Giving some details on the failed satellite, Rufai said the problem was caused by what he described as "solar flare", an accidental occurrence which cut of the fuel supply linkage with the solar panels and the battery.
Meanwhile, the Minister of Science and Technology Chief Grace Ekpiwhre, has held a meeting with senior officials of the Ministry to chart a way forward. In attendance at the crucial meeting were Rufai and the DG of National Space Research and Development Agency (NASRDA), Prof Robert Boroficce,
|Re: Nigeria Seeks $500m Loan To Build New Satellites! by malikalhaj: 6:44am On Dec 01, 2008|
What has this got to do with phones?
|Re: Nigeria Seeks $500m Loan To Build New Satellites! by Dual Core: 8:26am On Dec 01, 2008|
Moved from Phones
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