Developed by Argentina's space activities agency, Conae, in partnership with the Italian space agency (ASI) and in collaboration with private and public entities, the satellite will inaugurate the SAOCOM observation fleet.
Following a decade of planning, the Colombian capital's government started the first phase of the bidding process for the the US$4.4bn project, which is also being financed by the World Bank, the IDB and the European Investment Bank.
The EFVM concession is used by the Brazilian miner to transport iron ore shipments in the country's southeastern region.
The plan would involve around 15 works, the contracts for which still remain to be tendered.
The conglomerate expects a cash windfall from the sales of a stake in a pulp company.