China's Great Wall Industry Corp has signed a memorandum agreement with the Bolivian government and the International Telecommunications Union "to construct and send a satellite in orbit," state media reports.
The agreement is a precursor to a confirmed contract signing, slated for March 2010, that will see China Great Wall and the Bolivian Government work towards the launch of the 'Tupac Katari' satellite. The satellite launch is projected to take place "in 36 months." Bolivia is investing RMB300m into the project, according to state media.
During the signing ceremony, Bolivian President Evo Morales said the MoU "confirmed that Bolivia would have its own space satellite in three years. It is a priority project to contribute to Bolivia's development."
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