NewSpace India Ltd., the government’s commercial space arm, plans to invest Rs 10,000 crore over the next five years to own and operate satellites as well as launch rockets, its top officials said.
It is also in talks with the country’s space agency—Indian Space Research Organisation (ISRO) to acquire its fleet of remote sensing and communication satellites, they said.
“We will invest Rs 2,000 crore per year for the next five years,” D Radhakrishnan, director – technical and strategy at NSIL, said on Friday.
NSIL is in talks with the Department of Space to own and operate two new communication satellites for which an Indian telecom operator as well as a Direct-to-Home provider has signed up as customers. It has also floated a request for proposal to five Indian firms to build the workhorse polar satellite launch vehicle (PSLV) and expects to close the vendor in five months, Radhakrishnan said. The initial order would be for five PSLV rockets.
NSIL is also drawing up a requirement for new satellites in consultation with various users and start procuring, owning, launching and providing services, primarily in the communication sector, NSIL Chairman G. Narayanan said.
Source: ET
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