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Monday, 23 September 2019, 11:31AM

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Bangabandhu satellite- 1 to be insured with General Insurance Corporation

Business

Mahfuzul Islam, Senior Correspondent, Barta24.com, Dhaka | 11 July 2019, 08:28AM

Bangabandhu satellite- 1 to be insured with General Insurance Corporation
Photo: Collected

Bangladesh Telecommunications Regulatory Communication(BTRC) is going to insure the ‘in orbit’ of Bangabandhu Satellite-1 for the first time to minimize the risk with General Insurance Corporation(GIC). The premium of this high profile object has been fixed at 6 lakh 81 thousand 318.19 Euro which is Taka 6 crore 47 lakh 25 thousand 228.5 in Bangladesh currency. This was learnt form GIC sources.

The policy is being done for one year beginning from July 11 of current year to July 10 of 2020 with this local organization by dropping the Thalas Alenia of France. The money is remaining within the country as observed by the concerned.

According to the source, the agreement with the French Company expired on July 10. So the agreement with GIC has begun on July 11 for one year.

Speaking on overall matters of agreement with BTRC, General Manager (Re-insurance) Zakir Hossain of GIC told bartatwentyfour.com that we have done the deal with much persuasion. This policy of Bangabandhu Satellite-1 will bring confidence of the people to insure with local insurance companies. This will help encourage the foreign companies to insure with Bangladeshi Insurance companies.

It may be mentioned here that work on satellite had begun in 2007. Bangladesh applied to International Telecommunication Union(ITU) of UN to get an allotment in Eastern longitude of the orbit. But that application was opposed by 20 countries.

Bangladesh signed the construction of Bangabandhu Satellite -1 with Thalas Alenia Space of France on November 11 of 2015.

The total project cost of Bangabandhu Satellite -1 was Taka 2765 crore. Of the total cost HSBC bank gave a loan of Taka 1358 crore.

Bangabandhu Satellite -1 was built by Thalas Alenia of France. This organization has conduced everything including the construction, launching, controlling the land and space stations.

The Satellite launching and to place it in the orbit ‘an orbital slot’ was purchased from Intersputnik of Russia. The position of that orbit is 119.1 Eastern Longitude. This orbital slot was purchased for 15 years at Taka 229 crore.

Bangabandhu Satellite -1 has 40 transponders. Of those 20 transponders are for Bangladesh and the rest are for selling to foreign companies.

Bangladesh Communication Satellite Company Limited has been formed for the first time for the management of Bangabandhu Satellite -1.

After completion of Bangabandhu Satellite -1 the French company Thalas Alenia made arrangements of carrying it to the launching organization of USA. The US rocket company Space Ex has launched the satellite from Cape Kennedy space center of Florida by ‘Falcon nine rocket’.

Two ground stations are controlling the Bangabandhu Satellite -1 from Telipara of Gazipur and Betbunia of Rangamati.