Azercosmos's capital surpasses $80 million
By Nigar Orujova
Azerbaijan's government has increased the registered capital of the Azerbaijan's Space Agency Azercosmos from 40 million manats ($50.9 million) to over 63 million manats ($80.3 million).
As part of the capital increase, the total number of shares of the agency increased from two million units to 3,180,530 units at a nominal value of each share at 20 manats ($25.4).
Earlier, it was reported that Azercosmos finished 2013 year with 8.1 million manats ($10.3 million) profit and 554,000 manats' ($706,272) income from sales. The loss of the year exceeded 42.3 million manats ($53.9 million) compared to 2.25 million manats ($2.86 million) in 2012.
The regulations and structure of Azercosmos was approved by the Cabinet in December 2010. The state-owned agency, established in 2010, is the first satellite operator in Caucasus. It was established to launch into telecommunications satellites, manage and implement maintenance activities.
The satellite operator provides services of digital television, data transmission, creation of multiservice VSAT networks through the use of a telecommunications satellite "Azerspace / Africasat-1a".
Azerspace-1 telecommunication satellite launched in February 2013 covers Eastern Europe, the Caucasus, Central Asia and North Africa.
The satellite was originally designed to offer digital broadcasting services, internet access, and data transmission. It has also set up multiservice VSAT networks and offered governmental communication services.
Some 80 percent of the satellite's resources are available for commercial purposes. The second satellite is scheduled to be launched in 2017.
Azerspace is broadcasting over 80 TV and radio channels including Georgian, Turkish, Ukrainian, and South African TV channels. The TV is available when satellite antennas configured with 11,169 MHz frequency, 20,400 speed, Horizontal and FEC - 5/6 polarization.