BAKU, February 6 (RIA Novosti) – Azerbaijan is to launch its first telecommunication satellite, Azerspace, on Thursday night, Information and IT Minister Ali Abbasov said Wednesday.

“Our first satellite, Azerspace, will be launched and put into geostationary orbit from the Kourou space center in French Guiana with a French carrier rocket, Arianspace,” he said in an interview with the website of the ruling party, Eni Azerbaijan.

The satellite will provide Internet and other communication and broadcasting services across the country, the minister said.

Abbasov earlier said the project was worth a total of $230 million, including $17 million in insurance for the satellite.

Satellite operation is expected to generate about $600 million to $650 million in revenues.

Azerbaijan signed a satellite launch contract, reportedly worth $93 million, with Arianespace in November 2010.