Logo of Phnom Penh Post newspaper Phnom Penh Post - Royal Group in talks to buy telco satellite from China

Royal Group in talks to buy telco satellite from China

Royal Group in talks to buy telco satellite from China

Cambodia’s Royal Group is negotiating to purchase a satellite from the China Aerospace Science and Technology Corporation for its telecoms operations, according to Minister of Commerce Cham Prasidh.

Prime Minister Hun Sen, accompanied by Royal Group of Companies president Kith Meng, had visited the China Aerospace Science and Technology Corporation during his official visit to China, Cham Prasidh told reporters at Phnom Penh International Airport on the premier’s return from Beijing.

“Kith Meng is in talks with the Chinese firm to buy a satellite that could cost between US$300 million and US$400 million,” he said, adding that the satellite could be used for about 15 years.

Royal Group owns the Kingdom’s largest mobile phone operator, Mobitel.

Currently, Cambodia uses satellites that are operated by neighbouring countries including Thailand, Vietnam and Singapore.

Agreements covering $500 million in soft loans and $48 million in grants had been signed during Hun Sen’s visit to China over the weekend, Cham Prasidh told a briefing yesterday.

“This is a big number, as Hun Sen has said, and will be used to improve infrastructure,” Cham Prasidh said, adding that it would help build 400 kilometres of roads a year over several years.

In April, 2011, the Royal Group received a concess-ion to launch Cambodia’s first satellite, creating what the company sees as another integral step forward for the ASEAN economy.

Cambodian Satellite 1 was set to launch in the first quarter of 2013, the Post reported at the time.

Additional reporting by reuters

MOST VIEWED

  • Angkor Wat named as the top landmark for the second year

    Travel website TripAdvisor has named Cambodia’s ancient wonder Angkor Wat as the top landmark in the world for the second year running in their Travelers’ Choice Award 2018, an achievement Cambodian tourism operators expect will attract more tourists to the Kingdom. The website uses traveller

  • New US bill ‘is a violation of Cambodian independence’

    After a US congressmen introduced bipartisan legislation that will enact sanctions on Cambodian officials responsible for “undermining democracy” in the Kingdom, government officials and the ruling Cambodian People’s Party on Sunday said they regarded the potential action as the “violation of independence and sovereignty

  • Hun Sen detractors ‘will die’

    Prime Minister Hun Sen on Wednesday said those who curse or insult him would eventually die without a plot of land to bury their bodies after being killed by lightning, suffering the same fate as those who recently died in Thmar Baing district in Koh

  • NOCC to contest petanque, tennis axe

    The National Olympic Committee of Cambodia will lobby hard over the next few weeks for the inclusion of the Kingdom’s most productive medal-earning sport, petanque, along with vovinam and tennis after the disciplines were left out of the initial list of 30 preferred sports for