The much awaited Sri Lanka’s inaugural and
the regions third communication satellite launch would take place 2012.11.22 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
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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.”
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