NewSpace India Ltt will invest Rs 10,000 crore in 5 years, foresees a labor requirement of 300

The commercial division of ISRO NewSpace India Limited (NSIL) on Friday said it is considering investing around Rs 10,000 crore over the next five years and a manpower requirement of 300 as it plans to increase operations.

NSIL, incorporated as a wholly government-owned central public sector enterprise (CPSE) with paid-up capital of Rs 10 crore on March 6, 2019, would raise Rs 2,000 crore annually through a mix of equity and debt, its chairman and CEO G Narayanan told reporters here.

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The company, under the Department of Space (DOS), launched its first dedicated commercial mission on February 28, in orbit around the Brazilian satellite Amazonia-1. from Sriharikota spaceport of the Indian Space Research Organization (ISRO) based in the city.

“We expect an investment of around Rs 2,000 crore per year starting next year or next year, this is the type of investment we are looking to make, and our resources, manpower we are aiming for around 300 people. in about 5 years from now, “Narayanan said in response to a question.

Noting that NSIL has an authorized capital of Rs 100 crore, he said the 2021-22 union budget allocated Rs 700 crore to the company.

“… how it will be taken into the company is being worked out … it could happen within the next financial year,” the official added.

NSIL’s technical and strategic director, Radhakrishanan D, said the company had a turnover of over Rs 300 crore in its first year of operation and was expected to be around Rs 400 crore in 2020-21.

“This basically means that in the years to come our goal is to see the best way to keep increasing … but I have to admit that today we are in a very nascent stage of operations …” he said.

Narayanan said NSIL’s initial mandate was to take over the production and operation of ISRO’s launch vehicles from ISRO and has been authorized to produce and market other space services as well. The company started its business and made good progress in its first year of operation.

Recognizing all relevant aspects and growth of the space sector both domestically and globally, the Center, as part of the space sector reform process, strengthened NSIL’s mandate in June 2020, he said.

As part of the reforms, NSIL has been tasked with owning and operating capital-intensive space assets such as satellites and launch vehicles and providing end-to-end services on a commercial basis, he said.

This will lighten the main research teams (of ISRO) from routine activities, helping them focus on advanced research and development, he added.

The new mandate also provides for a paradigm shift in the way space services are provided from the current supply-driven model to a demand-driven model, company officials said.

As a first step NSIL has initiated discussions with users about the capabilities of communication satellites and will shortly “ finalize the requirements for the new satellites in consultation with various users and will begin to purchase, own, launch and provide services, mainly in the communications, ” said the CMD. .

“We are also in an advanced stage of discussions with DoS to acquire ownership of two new communications satellites,” he said, adding that further discussions are underway.

In addition, NSIL has taken steps to produce the entire Polar Satellite Launch Vehicle (PSLV) across national industries, and to that end, a request for proposal (RFP) has already been issued to identify a partner, he added.

Responding to a question about the two communications satellites, Radhakrishanan said the former would be primarily for Direct-To-Home services and the latter primarily for broadband purposes.

In response to a question, officials said the company is in talks with the DoS to acquire the ISRO fleet of communications and remote sensing satellites.

NSIL, leveraging India’s strength in the space sector, provides and will continue to provide consulting services in selected areas according to customer needs, said Narayanan.

It also undertook the transfer of identified technologies from ISRO to Indian industries to enable them to raise their technological level and compete in their respective sectors globally.

“So far, in our two years of existence, we have already performed distributed launch services on 4 PSLV missions for 45 customer auxiliary satellites and the recent primary satellite for INPE-Brazil,” he added.

The company currently has four more dedicated launch SLAs, which will run over the next 2-3 years, Radhakrishanan said without sharing details.

(This story has not been edited by our team of editors and is generated from a feed.)

News Highlights:

  • NewSpace India Ltt will invest Rs 10,000 crore in 5 years, foresees a labor requirement of 300