Pioneering space academy to be located in Pallekele

Wednesday, 15 August 2012 00:26 -     - {{hitsCtrl.values.hits}}

The Supreme Group fully owned subsidiary SupremeSAT Ltd., which has become the first and only satellite operator of Sri Lanka, has signed the joint investment agreement with China Greatwall Industry Corporation and Sino Satellite Communications Company Ltd. for the setting up of Sri Lanka’s first ever space academy within the Pallekele BOI Zone in Kandy.

Subsequent to the agreement signing ceremony was the foundation laying ceremony for Sri Lanka’s first and only space academy took place with the presence of Chen Qiufa – Vice Minister of Industries and Information Technology of the People’s Republic of China.

SupremeSAT has committed to invest USD 20 million for this project whilst CGWIC/SinoSAT consortium will invest in the equipment, technology and training aspects of the project which also runs into several millions of US Dollars.

The proposed space academy will consist a state-of-the-art satellite ground station which will provide on the job training to Sri Lankans who will start to control the already co-branded satellites of SupremeSAT/Chinasatcom.

In addition, another historic investment agreement was signed between The Supreme Group and Beijing Aerospace Great wall Minerals Corporation wherein the mineral reserves held by the company regionally was assigned to the Chinese company for mining as well as future reserve enhancement purposes.

The Supreme Group will enhance the mineral reserves of BAGWMC utilising its existing mineral reserves as well as acquiring larger reserves of all types of natural resources in Sri Lanka and in the region inclusive of Indonesia and Madagascar where the company has secured valuable coal mine reserves.

The presence of top executives of some of the largest and powerful Chinese state companies inclusive of China Aerospace Science and Technology Corporation, China Satellite Communications Company Ltd. and Aerospace Long March International Trade Company Ltd. was a very special feature of this agreement signing ceremony.