The satellite will be operational for commercial purposes in the region by early June 2013, he said. Sri Lanka's Board of Investment (BOI) earlier this year entered into a partnership agreement with SupremeSAT (Pvt) Ltd. to launch its own communication satellite at a cost of US$ 320 million. The total investment for the project is estimated at US$ 360 million which also included the construction of a satellite Content Management Station and a Space Academy in Kandy which is now in progress.
Sri Lanka will be the 45th country in the world to own a communication satellite and the third in South Asia. India and Pakistan have their own satellites. SupremeSAT will make history by becoming the 27th private company in the world to own a satellite. The company is currently negotiating with the Maldives and Afghanistan to build satellites for them. SupremeSAT 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.