Sri Lanka has entered into a partnership agreement with a private enterprise to launch its first ever communication satellite.

SupremeSAT (Pvt) Ltd. has signed an investment agreement with the Sri Lanka Board of Investment (BOI) on Thursday to the tune of 20 million USD which will be increased to 320 million USD in the long term , reported the Sri Lankan Presidential website.

The company plans to launch the country's first ever communication satellite utilizing the Planned Orbital Slot of Sri Lanka which is located at 50 degrees East.

Sri Lankan satellite, based on DFH-4 (DongFangHong-4) satellite platform, will be manufactured by China's State-owned China Great Wall Industry Corporation (CGWIC).

SupremeSAT has entered into an exclusive partnership agreement with CGWIC for the design, manufacturing and launching of the satellite.

Launch is scheduled to take place onboard the Long March satellite carrier in 2015-2016 time frame.
The website further said that the new venture of SupremeSAT will offer all types of telecommunication services such as 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.