Bolivian communications satellite starts to pay off

Bolivia has collected 33 million US dollars through the services of the Tupac Katari communications satellite after two years of operation, the Bolivian Space Agency (ABE) announced Saturday.

The satellite, which was launched by China, is currently using 60 percent of its capacity to benefit 25 Bolivian companies, according to ABE.

The income from the satellite had surpassed expectations and the 302-million-dollar investment would be recouped within 15 years of operation, ABE director Ivan Zambrana told a press conference.

"The satellite is beginning to bear fruit and we have many more contracts already set to meet the loan," said Zambrana.

He noted that this would allow the country to repay the loan China granted to build and put the satellite into orbit. In December 2010, the Bolivian government and the China Development Bank agreed on a loan worth 295 million dollars to finance the project.

Tupac Katari, named after an Aymara warrior who fought Spanish invasion in the 18th century, was launched three years later and began operating in April 2014.