The Export and Import Bank of China said Friday it will provide 200 million US dollars in preferential buyer's credit for Nigeria's first communications satellite project.

The bank signed an agreement Thursday with the Ministry of Finance of Nigeria on the deal, which involves building and launch of a Chinese-made satellite, the bank said in a statement Friday.

Wang Haibo, president of the China Great Wall Industry Corp., said the communications satellite, known as NIGCOMSAT-1, will be based on China's latest model of satellite platform, DFH No. 4.

Wang said this is also the first time for China to provide a package of space products and services, including design, manufacturing, orbital delivery, ground products and services, to an overseas client.

The company signed a contract in December 2004 with Nigerian National Space Research Development Agency (NASRDA).

With 28 transponders, including 4 C band, 18 Ku band, 4 Ka band and 2 L band ones, the satellite will be capable of meeting the requirements of Nigeria for telecommunications, broadcasting and broadband multimedia services, said Wang.

The platform is designed to have a lifespan of 15 years and 5,200 kg in weight, and the transponders with a designed power of 8 kw will be 800 kg, he said.

To be designed, made and launched by China's space sector, he said, the satellite will be put into the orbit by Chinese-made Long March 3 B carrier rocket at the Xichang Space Launch Center in southwest China's Sichuan Province, and will be delivered to NASRDA after it is in the orbit in early 2007.

The satellite represents the first one China to export to a foreign country although China also proved to be a reliable launch service provider in the world as it has launched 30 satellites in 24 commercial flights since 1990.

Source: Xinhua