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.”