Intersputnik completes the procedure of vetting bids under the Business Development Program

Development Program
March 31, 2021

On 31 March 2021 there expired the deadline for the examination of documents presented by bidders wishing to participate in the Program for the Development of Business in the Field of Space Communications (the Program). Totally, from 1 December 2020 to 26 February 2021 applications were received from two companies incorporated in Mongolia: AirspaceIX Mongolia LLC and Isatcom LLC. According to the rules of the Program, the Directorate of Intersputnik reviewed the documents presented by the bidders and vetted the companies for compliance with the requirements applicable to bidders and their business projects. Neither company could fully meet all such requirements.

The main obstacle preventing a bidder from participating in the Program was financial criteria such as average annual turnover versus the requested loan, profit margin and financial stability ratio as well as the requirement applicable to the winners of previous tenders (Isatcom LLC was one of them) that any new project needed to be based on the use of the Intersputnik international satellite telecommunications system. Given that both bids were not admitted to the tender, the procedure of provision of debt financing under the Program was declared void. 

Not all of the companies that showed interest in 2020 could submit applications for financing in a timely manner. Therefore, Intersputnik keeps monitoring the activity of potential bidders and will decide to collect tentative bids for the next tender depending on the results of such monitoring.

Interested companies are invited to send requests for consultations concerning the Program as well as information on planned satellite telecommunications projects to the Directorate of Intersputnik at the email address of the Program .

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