Thiruvananthapuram (Kerala) [India], Jan 31: The Indian Space Research Organisation (ISRO) on Friday announced that it is preparing low-cost satellite launch vehicles costing around Rs 30-35 crores each, which can put into orbit satellites weighing 500 kgs.
"This capability will give ISRO a big commercial boost as it will be able to cater to micro, mini and medium segments of the market," said Haridas T V, Deputy Director, VSSC taking part in the panel discussions at EDGE 2020, two-day space conclave.
The first such launch is expected to take place in the next four months from the country.
"The biggest advantage is that ISRO now can manufacture these vehicles in a turnaround time of just three weeks' time," he added.
Haridas also stated that ISRO has earmarked USD 1,600 million for launch vehicles of which USD 870 million will be for PSLV and the remaining for GSLV.
He further said that ISRO planned some 50 PSLV launches in the next five years.
The figure of the PSLV launches was earlier mistakenly reported in the statement as 500.
"The Government Owned Contractor Operated (GOCO) model is picking up very well in space and defence sectors. We want to leverage it to the maximum in the coming days," he added.
Earlier, in his keynote address at the session titled Navigating Space Industry - Through Innovation, Agility and Collaboration, Dr Rabin Giles, Director Innovation, CNES Connect said that there is tremendous scope for cooperation between France and India in the development of space technology.
"India and France can work to set up a model for the Moon program," he said.
Elaborating on the cornerstones for a space deal, Dr Giles said partnerships are the solution.
"Space industry is a sector where 'patience and dream' play a big part", he added. (ANI)