Protostar gets finance for No 2 | |
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03-04-2008
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Bermuda-based satellite operator Protostar has secured the financing for its second satellite – over India. India is desperate for more satellite capacity. The problem currently is that India’s DTH operators are strapped for capacity – so Protostar 2 (pictured, left) cannot arrive too soon. Protostar has raised $245m of debt and equity financing to complete the build, and then launch, of its next satellite. The satellite is a Boeing 601HP and is scheduled to launch early next year from a Proton ILS rocket. Protostar says a significant part of capacity on the new satellite has been pre-sold. Protostar 1 is scheduled for launch this coming quarter, and a major client is India’s Zee Corporation, which has called the capacity Agrani 1. Zee is believed to be the major client for the second Protostar craft. Source: Rapid TV News
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