The Russian Satellite Communications Company (RSCC) is planning to borrow R10.7 billion (€157.2 million) for the procurement and launch of two upcoming communications satellites.
According to Comnews, it has announced an auction to select banks willing to provide loan facilities.
RSCC will accept offers for the loans until December 14 and hold the auction two days later.
The satellites, known as Express 80 and Express 103, are scheduled to launch in 2019.
They will provide services to fixed and mobile communication, digital broadcasting, high-speed internet access and data transmission throughout Russia.