NewSpace India Limited (NSIL) the commercial arm of ISRO, on Friday announced that it was all set to own and operate space assets such as satellites and launch vehicles on a commercial basis.

The central public sector enterprise is in advance discussion with the department of space to take ownership of two communication satellites and has also bagged four contracts to provide launch vehicles in the near future.

Speaking to CNN News 18, G Narayanan, CMD of NSIL said the new mandate by the government of India through its space sector reforms has made it easier for NSIL to establish itself as a major space service provider.

"We expect that before the end of coming financial year we will have two satellites in our control and we will be able to put it in space and start operating. Currently, on of the satellite we are working on is a DTH, 24 Ku band transponder satellite, and another for broadband services," Narayanan said.

NSIL which was set up in March 2019 with a paid capital of Rs 10 crore is also betting high on providing launch vehicle for satellites and rockets not just for ISRO but also to private players.

"Of the dedicated launches that we have bagged those are not from ISRO, they are all from foreign international customers, once international customers come then we see no reason why Indian companies will not come," Narayanan added.

Even though in its nascent stage, the company is expecting a revenue target of Rs 400 crore for the year 2021 and is looking at investment to the tune of Rs 2,000 crore every year for the next five years. The idea of opening up the space sector to private companies will help NSIL become a key player in space-based services not just in India but in global markets as well.​

As far as timelines are concern, NSIL plans to launch two of the satellites in 2022 and another two in 2023. Of the four launches, three will be on the Polar Satellite launch Vehicle (PSLV) and another on a small satellite launch vehicle (SSLV). Although there is no disclosure yet on which countries these satellites belong to.

NSIL also announced that it was looking at manufacturing the entire PSLV by itself and is also reaching out to Indian industries to partner with for the same. A request for proposal (RFP) for identifying an industry partner has already been issued.

"The high cost and capital intensive facilities for testing and qualifying for space research was a deterrent for private players, but now with the opening up of facilities at ISRO at a reasonable cost and discussions on the interim mechanism till the launch of IN-SPACe will help participation of private players in the space sector, so several rocket motors and launchers by smaller comoanies are being tested at ISRO," Narayanan said about the entry of private players participation in the space sector.

(Edited by : Jomy)

First Published:Mar 12, 2021 7:49 PM IST