Moneycontrol BureauThe Indian Space Research Organisation (ISRO) has outsourced a project to build two remote sensing satellites to a consortium of six companies.
Companies like Alpha Design Technologies, Newtech Solutions, Aidin Technologies, Avantel Systems, DCX Cables, VINAYAS Technologies are part of the consortium taking care of the project.
ISRO Satellite Centre's (ISAC's) Director M Annadurai told Business Standard that the consortium has been given 18 months to build the two satellites.
Annadurai said that the private companies will use ISRO's infrastructure and will also provide training to them, while the ownership will remain with Indian research organisation.
The two basic ideas behind outsourcing the manufacturing of satellite is that scientists will now have time to spend on actual research rather than wasting it on making satellite and secondly, this will help in establishing a set of industries which can cater to the global space market.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
