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New Space India to invest Rs 10,000 crore to buy, run satellites
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The GSLV MKIII rocket (Representative Image) (Pic via ISRO website)

Homechevron_rightIndiachevron_rightNew Space India to...

New Space India to invest Rs 10,000 crore to buy, run satellites

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Bengaluru: New Space India limited (NSIL) is most likely to invest Rs 10,000 crore within the next 5 years in the space sector.

NSIL is a public service entity designed in order to promote the private sector in the Indian Space sector. NSIL is gearing up to launch its own satellites.

Several discussions had been held with the Department of Space to takeover remote sensing satellites and communication satellites of the private company ISRO that came into existence on 6th March 2019.

During the press conference, G Narayanan, Chairman and Managing Director of NSIL and Radhakrishnan D, Executive Director said that they expect an investment of approximately Rs 2,000 crore for the next 5 years and to accomplish this, the manpower of 300 people would be required.

Revenue would be obtained through loans and equities. Central Government has allocated Rs 700 crore for NSIL in the 2021-2022 Budget. NSIL had also received four launch service contracts and has agreed to lead a public service launch this year.

NSIL has commenced discussions to own communication satellites from ISRO for the private companies under NSIL. It is also reported that NSIL would launch ISRO's GISAT-24 in Arianespace rocket to enable DTH service of TATA Sky this year.

Meanwhile, ISRO has intended to launch more satellite this year after the covid pandemic. It is estimated that over 7 satellite vehicles including unmanned aerial vehicle launch under Gaganyaan Mission are targeted. Along with these, around 3 Earth-observing satellites, remote sensing satellite, commercial satellite and traffic control satellite are to be launched.

Gaganyaan Test Launch will be in December following 6 launches. It is also decided that the Aditya-L1 mission designed to study the sun will not be launched this year.

Dr K. Sivan, ISRO Chairman added that, the launch was posponed because the appropriate time to launch a satellite to the sun is next year and the prime focus of this year is to launch the Gaganyaan mission to send man to the space.

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TAGS:New space india ISRO ISRO Chairman 
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