Lockheed Martin has been awarded a contract by state-owned Vietnam Posts and Telecommunications Group to manufacture and deliver Vietnam’s first telecommunications satellite, Lockheed Martin announced May 12.

Under the terms of the delivery-in-orbit contract, signed May 12 in Hanoi, Lockheed Martin Commercial Space Systems will manage the project in its entirety.

The satellite, Vinasat-1, will be based on an A2100A platform and is scheduled to begin operation in the second quarter of 2008. The C-/Ku-band satellite will be located at 132 degrees East and will provide radio, television and telephone communications across Vietnam.

“Vinasat-1 will provide state-of-the-art technology that will help Vietnam enhance its role in modern world trade,” Ted Gavrilis, president of Lockheed Martin Commercial Space Systems, said in a statement. “As Vietnam continues to improve its investment and business environment, it will also enter the communications marketplace using a strong, reliable telecommunications network with Vinasat-1 as its anchor.”

Lockheed Martin won the contract in a competition with EADS Astrium and Japan’s Sumitomo Corp., the Vietnam News Agency said. Reports set the contract’s value at $168 million.