TEHRAN Iran, by the end of the current Iranian calender year (March 20, 2001), will finalize a deal for the manufacture of its first satellite, press reports said here on Monday.

The Zohreh satellite is to be the first of six to be built by companies from France, Russia, China and India which have applied to manufacture them. The satellites are intended to boost telecommunications services, the government daily Iran cited the Head of Iran Telecommunications Company, Qanbari, as saying.

"We are studying the applications of these countries and the result will be announced soon," it quoted Qanbari as saying.

The total cost of the project is estimated at 300 million U.S. dollars and, once completed, they will be positioned at 26, 34, 41, 47, 59 and 61.5 eastern radii, Qanbari was further quoted as saying.

The project was sought to be completed by the end of Aban (November 20) this year but failed to meet its target date because of financing problems.

According to the same official, the International Telecommunications Union has filed for an extension of the reserved orbiting sites in space for The Iranian satellites by two years.

The project had been tabled since 23 years ago but implementation has been put off several times due to various reasons.

(IRNA)