Industry

Loss-making satellite (TKSAT-1) generated $102 mn revenues in 5yrs

In six years, the Tupac Katari satellite (TKSAT-1) covered just 25% of the credit the state obtained for its construction and implementation: $44.3 million is from the Nation’s General Treasury and $251.1 million is Chinese credit. The final cost was $302 million. It currently operates at 66% capacity. The Bolivian Space Agency (ABE) noted that the revenue generated by the satellite was $102.2 million and that the company has an economic deficit, so it is started an audit.

Source: Página Siete

Categories:Industry