The contract for Pakistan Communication Satellite (Paksat-1R) was signed between Suparco and China Great Wall Industry Corporation (CGWIC), a Chinese firm, on October 15, 2008, official sources maintained.
Work on the execution of the contract began soon after and is progressing as scheduled, the sources said, adding that the contract involved various other projects, including infrastructure and therefore it was difficult to invest an exact cost on the satellite itself.
Official sources further said that at least two new satellites Paksat-1R and Pakistan Remote Sensing Satellite (PRSS) - would be launched in the near future.
The satellites have been developed with technical and financial assistance of China.
At present, Pakistan has a communications satellite, Paksat-1, in orbit, providing coverage across Europe, Africa, the Middle East, Central Asia and the South Asian subcontinent.