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Aerospace & Defense

Vietnam awards weather satellite deal to NEC and Sumitomo

$180m contract will utilize Japan's experience in typhoons and flooding

Vietnam is launching a satellite to assist in disaster prevention from powerful typhoons.   © Reuters

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.

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