BUENOS AIRES – Argentina has decided to stop construction of Arsat III, the last satellite approved by former President Cristina Fernandez’s administration, said the head of state-owned Arsat, Rodrigo de Loredo.
Work on the new satellite will not resume until officials sell Arsat II, the previous satellite produced in the series, De Loredo told the El Cronista newspaper.
No efforts were made to market Arsat II, the Arsat chief said.
“Arsat needs self-financing because we find ourselves with a company that has good things, but the funds have been mismanaged,” De Loredo said, adding that permits have been approved to sell “the footprint – the spectrum – of the satellite.”
Spectrum licenses have been approved by the government for Canada, the United States, Mexico and Brazil, the Arsat chief said.
The only way to ensure Arsat III’s financial viability is to sell its predecessor, De Loredo said.
The Arsat chief denied speculation that the project would be permanently shelved and said his team’s goal was to expand Argentina’s fiber-optic networks via geostationary infrastructure.