The satellite is partly owned by a private company, Sri Lanka’s first Satellite Company called SupremeSAT. The cost of the project is expected to be around US$ 360 million. According to the Chairman of the company, the project is a joint venture with two Chinese companies, China Great Wall Industry Corporation (CGWIC) and Sino Satellite Communications Company Ltd. The project also includes the construction of a satellite Content Management Station and a Space Academy at Kandy.
CGWIC is China’s State-owned company and is assisting SupremeSAT (Pvt) Ltd with regard to design, manufacturing and launching of the satellite.
Chinaâ€™s engagement with Sri Lanka in the area of space technology is along expected lines. It is obvious that the deal is actually a result of their strong bilateral relationship.Â At the same time it is also important to note that space technologies have acquired a special status in Chinaâ€™s geopolitical stratagem. China is not only using this expertise to cement existing bilateral associations but also as a tool for fresh engagements. China has been found using its expertise in space technologies as a tool of diplomacy both for economic and strategic gains, InstituteÂ for Defence studies and analyses reports.