Business | July 17, 2001, Tuesday // 00:00

Bulgaria will take part in a joint project for orbiting a television geo-stationary satellite, which will allow broadcasting 37 channels. The project will be carried out by Cyprus and the Vatican and is assessed at some $1 Bln. The amount for orbiting the satellite will be divided into four. The respective governments will not provide direct financing but will only hold the rights on the channels and will collect license fees. Their job will be to seek for private local and foreign investors to set up a consortium, Deputy Transport Minister A. Konstantinov said. The satellite will allow the use of four digital televisions on each channel. Bulgaria, Greece and Cyprus will receive 10 channels each, the Vatican 7. If some of the countries fail to fulfil its quota, the free channels will be distributed among the other states. Minister Antoni Slavinski and Greece`s Deputy Minister of Transport and Communications Alekos Vulgaris signed Tuesday an agreement for cooperation in the field of posts and telecommunications.

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