Venezuela, October 7, 2014: Venezuela has signed an agreement with Chinese state-owned China Great Wall Industry Corporation to build and deliver the country's third satellite.
The agreement, which was inked in the presence of Venezuelan president Nicolas Maduro, was signed between the Venezuelan government and China Great Wall Industry Corporation (CGWIC), China's sole commercial satellite launch service provider
The satellite, Sucre, has been named after the independence hero Antonio Jose de Sucre. Venezuela launched their other two satellites in 2008 and in 2012, named Simón Bolivar and Francisco de Miranda respectively.
The Minister of University Education, Science and Technology, Manuel Fernandez, said that the satellite is aimed at expanding the nation's capacity of planning and research. The satellite will have a camera with higher definition images which can be taken up to one meter from the surface. It will have greater transmission capacity, memory storage and new generation batteries that will give more power to the satellite.
Venezuela's Vice President of Planning and Knowledge, Ricardo Menéndez told media that the manufacturing and launching of Venezuela's third satellite will around 36 months. He also shared that a part of the satellite's production will be completed within the country and that the government will also set up a design centre in the central region of the country by January 2015.
The financial details were not shared.