Just in:  

You are here: Home»World»South Asia»Sri Lanka partners Chinese communication satellite

Sri Lanka partners Chinese communication satellite

mahinda rajapaksa 400COLOMBO: Sri Lanka's President on Wednesday welcomed the first communications satellite launch in partnership with a Chinese state-owned company, to take television to rural areas of the island.


President Mahinda Rajapakse said the private venture, in which his youngest son Rohitha was a promoter, had given the island a "new age in its development and industrial progress".


Rajapakse said the geo-stationary Supreme Sat I will provide DTH (direct to home) television in rural areas of Sri Lanka that cannot be reached by normal broadcasts.


"This is a major beginning for Sri Lanka to benefit from space technology in communications," the president said.


The local partner of the joint venture, Supreme Sat, said the satellite was positioned in orbit on Tuesday evening after launching from the Xi Chang Space Center in China.


Financial details of the partnership were not immediately known, but the local company said they envisaged a total investment of $320 million within five years.


China is Sri Lanka's main investor as well as lender, undertaking all key infrastructure projects such as sea ports, airports and highways.


Copyright AFP (Agence France-Presse), 2012


Index Closing Chg%
Arrow DJIA 17,798.49 0.08
Arrow Nasdaq 5,127.52 0.22
Arrow S&P 2,090.11 0.06
Arrow FTSE 6,375.15 0.28
Arrow DAX 11,293.76 0.24
Arrow CAC-40 4,930.14 0.32
Arrow Nikkei 19,883.94 0.30
Arrow H.Seng 22,068.32 1.87
Arrow Sensex 26,128.20 0.65

Wholesale Camping Equipment from China at 

New 2015 adidas and Nike Soccer Cleats at Kicks Corner uk

Ad Asia 2015

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln