Funds for satellite technology in Argentina

(Caracas, March 16, 2010). CAF approved US$36 million in favor of the Argentine Republic to partially finance the Argentine Geostationary Satellite AR-SAT Project. The project, whose total cost is US$723 million, is part of CAF’s actions in favor of technological development in Argentina and Latin America. The executing agency is the company Argentina de Soluciones Satelitales SA (ARSAT)

The Project covers design, construction and placing in orbit of a fleet of three geostationary satellites. CAF President & CEO Enrique García said, “Argentina will have the capacity to place its own satellites in geostationary orbits. The fleet will provide the complete range of services which the industry currently offers, at the same time as reaffirming the sovereignty of the country by preserving its orbital positions which is a priority of this CAF partner.”

To achieve this objective the ARSAT company was designated as Argentine satellite operator and assigned the functions of providing satellite services and fostering development of the country’s technical industrial aerospace complex. Technological progress in Argentina has been so significant that today the country is not only almost 100% self-sufficient in satellite services, but also has the capacity to offer its important technological advances to other markets.

The telecommunication satellites will also expand coverage and access to social programs of telemedicine and distance education in remote areas and localities in the country.