ISRO to enter into a joint venture with industries to build rockets
ISRO is planning to form a joint venture with a consortium of industries to build a polar satellite launch vehicle (PSLV).
The Indian Space Research Organisation (ISRO) is planning to enter into a joint venture with a conglomerate of industries to build launch vehicles.
The same was confirmed by ISRO’s Chairman A S Kiran Kumar, who stated that the organisation is currently using a significant amount of things from the industry and that 80 per cent of their work in the case of building launch vehicles is done with the industry.
• The space agency is planning to form a joint venture with industries to build a polar satellite launch vehicle (PSLV). The first launch of the vehicle is scheduled to take place between 2020 and 2021.
• The organisation is currently undergoing the process of establishing the mechanism for the venture and getting the necessary approvals.
• The consortium of industries is slated to have less than half a dozen companies. The chosen companies would, however, have many subcontractors working under them.
• ISRO has already given a contract to a company for the assembly, integration and testing of a spacecraft.
The ISRO Chairman further revealed that the organisation is getting many of the sub-systems done from companies across the country.The company also revealed in a statement that the participation of the industry in the realisation of space systems such as spacecraft, launch vehicles, establishment and operations of ground systems was growing steadily.