SupremeSAT (Pvt) Ltd signs the BOI agreement to launch satellite services
SupremeSAT (Pvt) Ltd. signed the investment agreement with the Board of Investment yesterday with very ambitious plans to take Sri Lanka into the global space race.
With an initial investment of USD 20 Million which will be further increased up to USD 320 Million, the company’s long term plan is to utilize the Planned Orbital Slot of Sri Lanka which is located at 50 Degrees East and launch SupremeSAT – the country’s first ever telecommunications satellite.
The company has entered into an exclusive partnership agreement with China’s state owned China Great Wall Industry Corporation (CGWIC) for the Design, Manufacturing and Launching of the satellite and also to secure the marketing facilities of many other satellites owned and operated by CGWIC and also China Satellites Communications Corporation.
Established in 1980, CGWIC is the sole commercial organization authorized by the Chinese government to provide satellites, commercial launch services and to carry out international space cooperation. The company has already signed nine contracts with international customers for manufacture and in-orbit delivery of telecommunication satellites, out of which four have been successfully launched into orbit, whilst the other two are set to be launched next year. Apart from this the company has launched many satellites for domestic purposes and has surpassed the US in the number of successful space launches for the year 2011.
As the professional company promoting international cooperation for China’s space industry, CGWIC is devoted to the internationalized development of China’s space industry. CGWIC has developed into a system integrator for space products and services. It can meet customers’ multi-directional needs by providing comprehensive solutions for commercial launch services, satellite export, satellite ground tracking and control station construction, satellite applications, project financing, project insurance and technical training, etc. Through extensive international cooperation, CGWIC enjoys an excellent reputation in the international aerospace industry, the financial community and the insurance circle.
SupremeSAT’s satellite will be the DFH-4 also known as Dong Fang Hong which means the “Rising of the shining east”. DFH-4 is the third generation communications satellite bus in China with high power, strong payload capacity and extended service life. It consists of propulsion module, service modules and solar arrays.
This new venture of SupremeSAT will offer all types of telecommunication services such as broadband and networking services, various broadcast solutions, backhaul or range extension facilities for telecom operators and other services such as E-government and E-learning.
This investment and our partnership with CGWIC demonstrate the investor confidence on the “Post War” Sri Lankan economy. “The political stability supported by the favorable investment climate helps entrepreneurs like us to reach the space. I am very glad that this venture coincides with the vision of His Excellency the President to make Sri Lanka a “Knowledge Hub”.” said Mr. R. M. Manivannan, Chairman of SupremeSAT (Pvt) Ltd. “We are now closely coordinating with the Telecommunications Regulatory Commission on the necessary approvals for the launch and take this opportunity to thank the Board of Investment for the very supportive role they play” he further said.
Mr.Wang Zhongmin – Deputy Director Manager of CGWIC said “It is a pleasure to be the exclusive partner of supremeSAT. We are confident that this partnership will make Sri Lanka’s space ambitions a reality and we are looking forward to be a part of all the space related activities of SupremeSAT. We are sure this will this help the technology growth of Sri Lanka”
Senior representatives from CGWIC were also present during the agreement signing.