Accordingly, Lockheed Martin will build the satellite and launch it into orbit within 24 months from the date of the contract.

On addressing the signing ceremony, VNPT President Pham Long Tran said the US$300 million Vinasat-2 project aims to develop Vietnam’s telecom market further and make full use of the infrastructure that served the first satellite to meet a growing demand from customers.

Vinasat-2, which can cover all Southeast Asia and a number of neighbouring countries, is expected to help ensure safety and stability in the supply of services as well as the security and safety of the national telecommunications network.

The Vice Director of Lockheed Martin, Joseph Rickers, confirmed that his company will ensure the contract is completed on schedule so that the satellite can be launched in April 2012.

With the launch of the US$250 million Vinasat-1in April 2008, Vietnam became the 93rd country in the world and the sixth within the region to have its own satellite in orbit, according to VNPT. So far Vinasat-1 has leased out 80 percent of its capacity and is expected to operate at full capacity by 2011.

VNA