by Staff Writers
Mexico City (Sputnik) May 22, 2015
A $60-million penalty stopped Mexico from calling off the launch of MexSat-1 communication satellite on Russian Proton-M launch vehicle, Deputy Minister of Communications and Transport of Mexico Monica Aspe told journalists Monday.
On May 16, Mexico's MexSat-1 launched on Russian Proton-M from Baikonur Space Center in Kazakhstan was lost following an emergency situation.
"The possibility to withdraw from the contract and to find an alternative was considered. However, in this case there would be a price, let's call it a fine, a guarantee, at the rate of $60 million," Aspe said.
The Mexican authorities decided to proceed with the launch project to avoid such an inexpedient payment, the deputy minister added.
Earlier in May, Mexican Minister of Communications and Transport Gerardo Ruiz Esparza said that all the launch risks were insured, thus Mexico will get a refund. He estimated the value of the satellite at about $390 million.
Source: Sputnik News
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