Thaindian News

CARCAS, VENEZUELA (BNO NEWS) — China and Venezuela on Thursday signed an agreement for the construction of the South American country’s second satellite, the state-run AVN news agency reported.

China will provide support to the construction of the second Venezuelan geostationary satellite that is expected to be launched in October 2012. The satellite will be used for monitoring the country 24/7.

“This monitoring of the national territory will give us a huge potential in regards to timely assistance in emergencies and disasters, such as the current heavy rains,” said Ricardo Menendez, the Science, Technology and Intermediate Industries minister.

The joint VRSS-1 (Venezuelan Remote Sensing Satellite) project will cost an estimated $140 million. The satellite will be constructed and launched in China. The device will also provide detailed cartography that will be updated every 40 days as well as military support.

The Chinese aerospace company, CGWIC, will be in charge of the launch of VRSS-1. If successful, it will be the second Venezuelan satellite in orbit. In October 2008, the Chinese-made “Simon Bolívar” was launched to be used for communications.

Minister Menendez added that VRSS-1 has an estimated lifespan of five to six years but the data that will be collected in the period will be useful for at least ten years. Venezuelan experts will travel to China for participating in the project.

Furthermore, Venezuela is considering a project for establishing the first facility for manufacturing small and medium-sized satellites in its territory. Menendez remarked that the redistribution of oil incomes has provided funds for investing in technology.