Sri Lanka's first privately-owned satellite

By Sanjeevi Jayasuriya

Sri Lanka's first privately-owned satellite was launched last week from the Xi Chang Space Centre in China.

The following are excerpts of the interview the Sunday Observer Business had with the Chairman, Supreme Group, R.M. Manivannan.

From the beginning we made it clear to everyone that ours is a 100 percent private venture. The initiative, the project, the funding and every effort made was totally from the private sector. This project is a $ 320 m investment spread over a period of five years.

This project is an example of private sector-driven growth in Sri Lanka. The Government has created the environment to grow and the private sector must take the challenge. The private sector should secure the financing, build required international relationships and ensure that mega projects of this nature become a reality.

Being a relatively young enterprise, driven by relatively young people, we have now shown that given the necessary commitment, the private sector too could play a lead role in the country's economic progress without simply sitting back and blaming the Government.

The Government did support us. The Government facilitated the corporate structure with tax concessions through the Board of Investment, providing the necessary investment climate, legislation and political stability.

We wanted every Sri Lankan to share the glory.

As a regional conglomerate we have businesses in India more than in any other country. We take every effort to maintain cordial relations with India.

We have applied to secure the 'Sri Lankan Orbital Slot' which is 50 Degrees East. It is pending with the Telecommunications Regulatory Commission.

It is a process which takes time. Hence as an active business enterprise we seized the opportunity of utilising the 'Chinese Orbital Slot' and the rest is history.

We have worked hard, came a long way and created history. The accomplishments have also created high expectations.

What we have demonstrated is just the beginning. We will continue this journey bringing more fame and glory to Sri Lanka. Things were not easy for us. We were not given anything on a platter.

We fought our way through every single step and ours can be a true case study for any emerging Sri Lankan enterprises which dreams big and thinks global, while protecting our national interests.