Minister of Telecommunication and Information Technology Ranjith Siyambalapitiya told Parliament yesterday that the Sri Lankan government had not made any investments in the launch of Supreme Sat and none of the satellite orbital slots belonging to Sri Lanka has been allocated for this project.
Making a reply speech to a series of questions raised by Opposition Leader Ranil Wickremesinghe in Parliament on December 6 regarding this project, the Minister said that According to particulars provided by the Board of Investment the SupremeSAT Solutions (PVT) Limited is a company registered under the provisions of the Companies Act No 7 of 2007 and its offices are situated at 33th Floor of the World Trade Centre.The primary objective of this company is to provide efficient and low cost broadband facilities to Lankan consumers. This company has entered into a joint venture agreement with the Great Wall Industrial Corporation and Sino Satellite Communication Company in China.
The SupremeSAT has submitted a project report to achieve their objective in three phases to the BOI. The first phase would be launched in 2012, the second in 2013 and the third in 2015. The estimated investment for the first phase stands at US $ 4 million, for the second phase US $ 15 million and the third phase at US $ 300 million.
The BOI gave on May 15, 2012 its approval to SupremeSAT to set up this project at Pallekele Industrial Zone on the basis of a no objection letter provided by the Telecommunication Regulation Commission of Sri Lanka. The BOI approval has been granted only for the first and second phases of the project.
Accordingly during the first phase an earth transmission centre would be set up for up linking and down linking between the earth transmission centre and the ChinaSAT 12 (SupremeSAT). It is planned to allow for transmission from the SupremeSAT satellite and the earth centre during the second stage.
It is also envisaged to launched another satellite into orbit in the third phase.
The satellite orbital slots from 50 degree east and 121.5 degree east have been allocated for Sri Lanka. The TRCSL has not given any permission to either local or foreign company to use these slots. ChinaSAT 12 uses an orbital slot belonging to China as we have been informed.
The TRCSL has not given permission for a satellite project of the Sri Lankan government.
Since the SupremeSAT 1 satellite is not a Sri Lankan government project its cost and the methodology of covering the cost are not applicable.
According to the information furnished by the BOI, the local partners of the venture are Supreme Solutions Pvt Ltd operating from th e 33rd floor of the World Trade Centre. This is 100 percent Sri Lankan private venture and their total investments for the first and second phases are US $ 2.38 million. According to the BOI the cost for the third phase would be earned from a loan obtained from a foreign bank.
The directors of the SupremeSAT (Pvt) Ltd are Ramasamy Muttusamy Maniwanan and Sanmuganathan Sudarshan.
The Government of Sri Lanka has not invested or paid any financial agreement with relation to this project. And none of the satellite orbital slots belonging to Sri Lanka has been allocated for this. Though the SupremeSAT pvt Ltd is a private venture it would increase the Sri Lankan investment
portfolio and would help Sri Lanka becoming the knowledge hub of Asia.
Source: The Island (Sri Lanka)
