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.