Cairo – Mubasher: The board of directors of Egyptian Satellites Co (NileSat) decided to launch a negotiated tender instead of a selective tender for manufacturing and launching Nilesat 301 satellite.

This move is aimed at getting the best technical and contractual aspects at the most competitive prices, NileSat said in a statement to the Egyptian Exchange (EGX) on Thursday.

Previously, the Egyptian firm revealed that it started receiving biddings for manufacturing and launching Nilesat 301 satellite and its ground stations.

It is worth mentioning that during the first half of 2019, NileSat’s net profit retreated to $23.81 million from $27.12 million in H1-18.