MercoPress. South Atlantic News Agency

Venezuela will launch a satellite in 2008 from China

President Hugo Chavez said Sunday that Venezuela plans to launch a satellite from China in 2008 enabling the country to “obtain strategic information on all types of communications”.

President Chavez showed a model of the Simon Bolivar satellite during his weekly radio and television show which he said is to be jointly developed with China. "We want to ensure our communications sovereignty and technology transfer", said the Venezuelan president.

During his recent visit to Beijing Chavez and his Chinese counterpart, Hu Jintao, signed several agreements in the energy, agriculture, transportation, mining, housing, tourism, telecommunications and information technology areas.

Last month Venezuelan government owned oil giant PDVSA and Petrochina Oil signed an oil-supply contract. Under the terms of the deal PDVSA will sell China 30,000 barrels per day of fuel oil.

For the building or the six ton Simon Bolivar satellite Venezuela will be sending 90 civilian and military technicians to China. The whole project is expected to demand 200 million US dollars.

Chavez said that Venezuela is located in a geographically privileged position to develop the satellite and rocket launching industry, "and we intend to take advantage of those conditions and make the country a leader in the communications industry"