Egyptian satellite "Nilesat 201" was successfully launched on Wednesday night from a base in South America on board of the "Ariane 5" rocket. The cost of the new satellite amounted to US$237 million and have been financed from Nilesat's own resources as well as a loan from a regional bank.
Egypt's Information Minister Anas el-Feki said the launch of the Egyptian satellite confirms the country's leading media role. According to him, Nilesat 201 supports Egypt's competitive position in this strategic area. Nilesat Company, one of the major television and radio broadcasting service providers, transmits over 560 TV channels and 100 radio stations, the minister noted.