Business Times

Sri Lanka's first satellite company launched

SupremeSAT (Pvt) Ltd recently signed an investment agreement with the Board of Investment (BOI) with ambitious plans to take Sri Lanka into the global space race. With an initial investment of U$20 million to be increased up to $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.

Picture shows during the signing of the agreement - Wang Zhongmin (CGWIC), R.M. Manivannan (SupremeSAT) and Eshana De Silva (BOI) with other officials.

In a media statement, the company said it 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.

Through this new venture, 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.

"The political stability supported by the favourable investment climate helps entrepreneurs like us to reach the space," said 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 said.

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