The Indian Space Research Organisation (Isro) on Saturday named space scientist VS Hegde as the new chairman and managing director of its commercial arm, Antrix Corporation, as part of a restructuring following its controversial deal to allot S-band transponders to private firm Devas Multimedia.
Until now, the Isro chairman also headed Antrix?s board and the move to appoint a full-time chairman for the company is among plans to gear up for emerging opportunity in the space sector estimated at $160 billion globally.
It will also involve revamping Antrix?s 10-member board, Isro chairman K Radhakrishnan told reporters while announcing the appointment of Hegde, who was until recently the space agency?s scientific secretary.
?This will ensure the right kind of sharing of resources, right kind of allocation of resources, experts and priorities for Antrix,? he said.
The Antrix board currently includes Ratan Tata, chairman of Tata Sons; J N Godrej, MD of Godrej and Boyce and P Ravindra Reddy MD of Hyderabad-based nuclear and defence components manufacturer MTAR Technologies, apart from senior Isro scientists.
Antrix, which earned revenue of R1023 crore in 2010-2011 as against Rs 883 crore in the previous fiscal is primarily engaged in the leasing of Isro’s satellite transponders and marketing its space products including data from earth observation satellites and the building and launching of satellites for global customers. Nearly R 700 crore of revenue comes from leasing transponders to users such as Direct-to-Home television companies.
The space agency’s immediate focus is on ramping up the transponder capacity to meet a shortfall in supply, said Radhakrishnan, adding that Antrix was currently in talks with foreign satellite operators to lease more transponders as a short term measure. Isro, which will launch a communication satellite, GSAT-12, next week, estimates that it would have around 200 transponders by mid-2012, besides 86 currently on lease from foreign operators.
?Still, we will be short by 100-150 transponders. We will have to enhance capability,? said Hegde. While national development needs are the top priority, Hegde said that Antrix would also have to expand its reach to tap an emerging market for space products in geographies such as South America and Africa.
The space commission had directed a review of Antrix’s working and an appropriate restructuring in a July 2010 meeting during which it recommended the annulment of the contract with Devas to lease S-band transponders on two satellites for launching mobile satellite services. The contract was annulled in February by the government citing strategic requirements for the S-band spectrum.