Pakistan and China on Thursday signed two agreements and Memoranda of Understanding (MoUs) on Space concessional loan, space technology and alternative energy. Prime Minister Syed Yusuf Raza Gilani witnessed the signing ceremonies as the respective officials of the companies inked the documents. The concessional loan agreement for PAKSAT was signed between Pakistans Economic Affairs Division and Export Import Bank of China. Under the agreement, China will provide an amount of US$ 190 million for the supply of PAKSAT-1R which will replace the PAKSAT-1 that has a lifespan till 2011. The loan will cover 85 percent of the cost of the project. Another agreement was signed between Pakistan Space and Upper Atmosphere Research Commission (SUPARCO) and China Great Wall Industry Corporation for Pakistan-1R Satellite Ground Control Segment.