Lanka’s inaugural satellite launch on Thursday
Shirajiv SIRIMANE
The much awaited Sri Lanka’s inaugural and the regions third
communication satellite launch would take place next Thursday from
Beijing China at 3 30 p.m. Sri Lankan time. The Supreme Group is a fast
growing Sri Lankan home grown company with a special focus on Sri Lanka
and regional satellite communication opportunities. They have already
invested US $ 100 million.
Chairman, Supreme Group, R. M. Manivannan (inset) and images of
the satellite being installed in China |
In addition they had already invested US $ 20 million for a satellite
training and transmitting station in Kandy. The funds for this historic
venture are being mobilized through MIL Bank.
Chairman, Supreme Group, R. M. Manivannan speaking to Daily News
Business said that they would further invest US $ 60 million next year
for further development of the project.
“Our main strength and revenue base is bulk commodity trading which
includes large scale contracts of urea, coal, bitumen, PVC, iron ore. In
addition we are also involved in reinsurance, investments, oil
exploration, mining and consultancy. After the huge success the company
enjoyed doing large scale regional business, we wanted to do something
big and beneficial to Sri Lanka and this is the reason we decided to
launch a satellite for Sri Lanka.”
“Being a patriot this launch of the satellite would once again prove
that “nothing is impossible” for a Sri Lankan.”Subsequent to the launch
in China the satellite would be positioned right over Sri Lanka and
after programming it would be ready by early next year. Manivannan said
he has opened doors for a new industry in Sri Lanka and this will
trigger a positive attitude especially within the private sector and
investor community thus brings in similar large scale, Sri Lankan
initiated innovative projects into Sri Lanka.”
“When we made our initial efforts to design, manufacture and launch a
satellite owned by us, none of the western manufacturers took us
seriously and we have proved our critics wrong by scheduling the launch
of the satellite on Thursday.”
With the capital raised and firm plans in place, it was still an
uphill task to find the suitable partner who would be willing to offer
us the technology support. This is when we contacted the Chinese state
owned, China Great Wall Industry Corporation who was a tower of strength
for this operation,” he said.
“This project, while commercially creating a whole new industry in
Sri Lanka, and would also bring in a total of US $ 320 million within
the next three to five years. In addition there will be foreign exchange
earnings along with high technology employment generation.”
He also said in a few months the local telecommunication and TV
viewing industry would see a major transformation with numerous benefits
being offered to them for better quality and lower price.
“Eventually this will lead to technology transfer and we can provide
employment and a knowledge base to Sri Lankans who wish to venture into
the space industry.” |