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Mexico not to suffer financially due to loss of satellite after Proton accident — Minister

May 17, 2015, 2:52 UTC+3 MEXICO CITY
According to Esparza, the satellite was insured for its full value and "this sum will be fully refunded"
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© ITAR-TASS / Sergei Kazak

MEXICO CITY, May 17. /TASS/. Mexico will not sustain economic losses due the loss of its MexSat-1 communications satellite following the crash of the Proton-M carrier, Mexico’s Minister of Communications and Transportation Gerardo Ruiz Esparza told a news conference in the city of Hermosillo on Saturday.

According to Esparza, the satellite was insured for its full value and "this sum will be fully refunded." He added that the Mexican authorities had invested $300 million in the creation of the satellite and another $90 million - in its blast off from the Baikonur space port."

Commenting on the Proton crash, the minister noted that "it was quite clear that such risks did exist" during the launch of a space vehicle.

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