Argentina made history by launching Latin America’s first indigenously built satellite. Called ARSAT-1, the geostationary satellite was launched on Thursday and was broadcasted live throughout Argentina while President Cristina Fernandez de Kirchner supervised from the presidential residence.

The Argentine-built satellite was constructed by INVAP, a private high-tech company based in Rio Negro province, according to the Buenos Aires Herald. With this satellite, Argentina will receive complete satellite coverage, saving the country $25 million a year in space rental expenses.

The satellite will also provide data transmission, telephone and television services, not only to Argentina, but Chile, Paraguay and Uruguay.

Argentines celebrated the momentous occasion on social media with the hashtags #SoberaniaSatelital (Satellite Sovereignty) and the phrase “Tenemos patria” (We have our homeland.)

ARSAT-1 was launched from a base in French Guiana aboard a European Space Agency rocket called Ariane 5. According to The Associated Press, the satellite cost $250 million and took seven years to build, involving 500 scientists. The satellite will provide service to the aforementioned nations for the next 15 years.

President Fernandez de Kirchner took to Twitter to explain what the ARSAT project means for Argentina and also to celebrate what happened and congratulate the hundreds of scientists involved.

“The wings of the homeland are spread. Of your homeland, of my country.”

“Like dreaming when awake…”

The Argentine president explained on Twitter that the satellite successfully separated from the rocket and that there are two other satellites, ARSAT-2 and ARSAT-3, currently under construction.

Watch the launch of the Ariane 5 rocket: