Antrix Corporation of India and Binariang Satellite Systems (BSS) of Malaysia have received cabinet clearance to jointly set up a company with a paid-up capital of Rs 90 lakh and an authorised capital of Rs 100 lakh. The two companies will have an equal share of the investment.
The joint venture company will help Antrix extend its satellite communications marketing and business operations in the Asia Pacific region.
Antrix will have access to state-of-the-art technology by acting as technical consultant to BSS’ Malaysia East Asia Satellite (MEASAT-III), which will be procured from Boeing by the Malaysian partner.
The joint venture company is expected to make a profit from the very first year of operations as it will market transponder capacity in the region against a fee. It will consider launching its own satellite later if it is considered economically viable.