Cairo – Mubasher: Egyptian Satellites Co (NileSat) signed a new contract with Thales Alenia Space to build a new satellite.
Nile Sat 301 will be launched into space in January 2022 to substitute Nile Sat 201 which will reach the end of its working life in 2028, the company said in a statement to the Egyptian Exchange (EGX) on Tuesday.
The new satellite will take 25 months to be built at Thales Alenia Space’s headquarters in Southern France and will have an expected life time of 15 years.
Earlier, four foreign companies submitted their bids to a tender launched by NileSat for building a new satellite.
During the first half of 2019, NileSat reported a net profit of $23.81 million, compared to $27.12 million in H1-18.