Shin Satellite Pcl approved the investment of up to $100 million to build a new satellite intended to expand the company’s Ku-band services and coverage, Shin Satellite said in a June 27 filing with the Stock Exchange of Thailand.

Thaicom 5 will have 14 Ku-band transponders and 24 C-band transponders and is slated to replace existing satellites. Part of the money for the spacecraft will come from an insurance claim for Thaicom 3, with the rest being financed by long-term loans.

Shin Satellite has not yet selected a manufacturer, launcher and insurer of Thaicom 5 but expects the project to be completed by the second quarter of 2006.