We are grateful for this prestigious awardJakarta (ANTARA) - The high-speed multi-functional satellite program SATRIA won an award during the Project Finance International (PFI) Awards 2021.
"We are grateful for this prestigious award," Telecommunication and Information Accessibility Agency's (BAKTI's) Executive Director at the Communication and Informatics Ministry, Anang Latif, noted in a press statement on Thursday.
"This award asserted that the vision to build all locations in the nation without exception, appropriate satellite technology, and financing strategy for SATRIA has been proven to be on the right path," he affirmed.
This award will also motivate the ministry to continue to monitor SATRIA's development, so that it could immediately be launched and provide benefits on time, he added.
The SATRIA Project won this year's Telecom Deal of the Year for the Asia Pacific region.
PFI is the world's primary reference point for project finance. PFI's analysis also becomes a reference point for project finance professionals worldwide for their business interests.
In its report, PFI noted that the construction timing for the broadband satellite produced through the Public-Private Partnership (PPP) scheme was highly accurate.
During the COVID-19 pandemic, communication devices provide an outlet for families and friends to interact and to maintain productivity.
SATRIA is the first satellite built under PPP scheme in Indonesia worth US$545.
PFI noted that amid the challenges of the COVID-19 pandemic, the SATRIA project managed to secure a loan worth US$431, with a 12-year tenor, to ensure its construction.
The loan, for which the signing took place on February 24, was offered by Asian Infrastructure Investment Bank (AIIB), Korea Development Bank, HSBC, and Santander. BPI France Assurance Export provides protection for commercial banks.
The SATRIA project is constructed by a consortium of private companies: Pasifik Satelit Nusantara (PSN), Pintar Nusantara Sejahtera, Nusantara Satelit Sejahtera, and Dian Semesta Sentosa.
The satellite will provide services for the VSAT operator that will continue to offer the service to end users.
The SATRIA satellite will be utilized by the ministry's BAKTI to provide broadband internet service, including free Wi-Fi access to 150 thousand public service locations, such as schools, hospitals, and regional governments.
The project's earnings will be in the form of payment availability and Indonesia Infrastructure Guarantee Fund (IIGF) that provides guarantee over the cost payment availability and half of the termination payment based on PPP's deal.
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Translator: Natisha A, Fadhli Ruhman
Editor: Sri Haryati
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