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March 15, 2001
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Money > Business Headlines > Report March 15, 2001 |
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Agrani planning JV for ICO Global ventureBS ICE Bureau Agrani Satellite Services, a wholly-owned subsidiary of Subhash Chandra-promoted ASC Enterprises (ASCEL), is likely to form a joint venture with Craig McCaw's ICO Teledesic Global for their New ICO Global venture, a rejig of its earlier project. According to ASCEL group president and chief executive officer Jai Singh: "We want to make a distinction between our two projects. The earlier project has been put on the backburner due to several issues." Singh said that a joint venture is a possibility in the near future and added that it would be named ICO Agrani. The new satellite will be launched in April next year and it is being handled overseas, which removes the chances of facing any hurdles faced by the old ICO project. The Rs 30 billion old ICO project had been stalled due to imposition of US sanctions following the Pokhran nuclear tests, as well as souring market sentiments. Singh said that Alcatel Space Industries will be the new industrial partner for their new satellite. Elucidating on the technical details, he said, "We took the C & Ku band elements out of the earlier satellite and have incorporated it in the new one, along with more bandwidth." "The new satellite will have 24 C band transponders and 14 Ku transponders, which will be beamed from the Middle East to Australia. While 12 C band transponders will be available in the country, there will be a Ku spot beam over India," he added.
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