Bangladesh will soon launch a new satellite for improvement of information and communication technology, a government statement said.

According to the statement released Wednesday, the satellite will upgrade the broadcasting facilities of the country to international standard, Xinhua reported.

The decision was taken at a ministerial meeting, where various technical aspects in launching the satellite, possible cost and implementation of the project were discussed.

Experts said launch of the satellite will take at least three years and the cost was estimated at about $200-300 million.