HANOI -- Japan's NEC and Sumitomo Corp. agreed Friday to a contract to develop a satellite for the Vietnamese government that will help predict severe weather and survey the resulting damage.
This marks the first time technology group NEC will export a satellite. Most of the financing for the project -- the satellite order is estimated at over 20 billion yen ($184 million) -- will be covered by a state-backed yen loan provided by the Japan International Cooperation Agency.
