Six multinational banks and firms have expressed interest in financing the launching of Bangladesh’s first satellite Bangabandhu 1.
A number of officials of the posts and telecommunications ministry said the Finance Division and the Economic Relation Division authorities were scrutinising the financial offers of the Export-Import Bank of USA, HSBC France, Japan Bank for International Cooperation, CWG Gulf International of the UK, and China Great Wall Industry Corporation.
The Finance Division and the ERD had sought a business plan and cash flow chart for the Bangabandhu 1 Satellite Launch project from the ministry, they said.
The government has already spent Tk86 crore for paying the foreign consultants’ fees for the specialised project even before starting the main project work.
“Now it is up to them [the Finance Division and the ERD] as all documents, including the business plan and the cash flow chart, have been submitted to them,” Posts and Telecommunications Secretary Abu Bakar Siddique told the Dhaka Tribune yesterday.
“The committee concerned will select the foreign firms for the satellite project in a way as not to burden the country financially.
“The government will not be able to bear the expenses of the mega project costing Tk3,200 crore, so the consulting agency has brought foreign firms for financing…We will recommend a proposal that will seem appropriate and profitable for the country,” he said.
If necessary, separate international tenders would be floated for the launching of Bangabandhu 1.
Abu Bakar said the duration of the pilot project for the satellite launching had been extended for another year from June 2015 to June 2016.
Meanwhile, the ministry has sent the pro forma development project to the planning ministry for final approval of the Executive Committee of the National Economic Council (Ecnec).
The Bangladesh Telecommunication Regulatory Commission sent the project to the telecom ministry last month. The total cost of the project will be Tk3,200 crore; the BTRC will finance Tk1,555 crore while the rest of the fund will come from foreign sources.
The telecom regulator has already prepared necessary documents to finalise the tender process for the manufacturing of the satellite.
International tenders for the launching vehicle, ground control station and insurance will be floated in phases.
The USA-based Space Partnership International is working as the consulting agency for the satellite project. The BTRC inked an agreement with the SPI on March 29 last year.
Bangladesh has already bought the 119 East orbital slot for Bangabandhu 1 satellite from Sputnik for $28m. Applications for three more slots have been lodged with the International Telecom Union.
The government expects to recover the project cost in five years.
