Sri Lanka is set to launch its first satellite by 2015 following an agreement with a Chinese company, officials said on Thursday. SupremeSAT, a local company said it has reached an agreement with the Sri Lankan board of investment to the tune of 20 million U.S. dollars for the project.

By 2015 the company hopes to utilize the orbital slot of Sri Lanka which is located at 50 degrees East and launch the island's first ever telecommunications satellite.

"We already have two co-branded satellites with the Chinese company in orbit and by 2015 we hope to launch our own satellite which will be Sri Lanka's first," an official at SupremeSAT told Xinhua.

The company said it has entered into an exclusive partnership agreement with China's state-owned China Great Wall Industry Corporation (CGWIC) for the design, manufacturing and launching of the satellite.

CGWIC is the sole commercial organization authorized by the Chinese government to provide satellites, commercial launch services and to carry out international space cooperation.

SupremeSAT will offer all types of telecommunication services including broadband and networking services, various broadcast solutions, back-haul or range extension facilities for telecom operators and other services such as E-government and E-learning.

"We are now closely coordinating with the Telecommunications Regulatory Commission on the necessary approvals for the launch," R. M. Manivannan, Chairman of SupremeSAT said in a statement.

CGWIC meanwhile said it was confident that the partnership will make Sri Lanka's space ambitions a reality.

Source: Xinhua News Agency