NSIL gives Rs860 crore order to HAL- L-;T consortium for rocket production

5 Sep 2022 , 07:29 AM

On Sunday, NewSpace India Limited (NSIL) awarded an Rs860 crore contract to the Hindustan Aeronautics Limited-L&T consortium to construct five rockets.

According to news agency PTI, this will be the first time that the sector will produce Polar Satellite Launch Vehicles (PSLVs) from start to finish.

The deal is for the production of five PSLV rockets, India’s dependable workhorse launch vehicle.

The HAL-L&T consortium was chosen as the technically qualified and L1 bidder to carry out end-to-end PSLV production following the techno-commercial review of three offers.

Under the GOCO (Government Owned, Contractor Operated) concept, the consortium will now be in charge of constructing, assembling, and integrating the launcher using the existing ISRO facilities.

According to news reports, the NSIL also has plans to commission GSLV-Mk III rockets from Indian business partners.

The transfer of 10 in-orbit communication satellites from the Government of India to NSIL was approved by the Union Cabinet in June of this year.

Additionally, the government had approved raising NSIL’s authorized share capital from Rs1,000 crore to Rs7,500 crore.

According to news reports, the space sector reforms required NSIL to engage in end-to-end commercial space activities and perform the duties of a full-fledged satellite operator.

NSIL generated Rs432.67 crore in operating income and Rs121.84 crore in profit after taxes year 2020—21.

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