Bangladesh is to form a public company to own and operate its upcoming debut satellite, Bangabandhu Satellite-1.

Bangladesh’s cabinet secretary, Mohammad Shafiul Alam, briefing journalists, said Bangladesh will join the Satellite Club as the process for launching the satellite is nearing completion. “The satellite will be launched into the orbit very soon, and to operate it a decision to constitute a company has been made,” he said.

The new company (Bangladesh Communication Satellite Co) will have 5 billion shares, priced at 10 Taka per share (worth in total about $615 million).

Alam said that there would be 11 people on the company’s board, all of which would be government staffers.

Thales Alenia Space is building the satellite which is 88 per cent completed and when launched will be placed at 119 degrees East. The satellite is scheduled for launch this coming winter on a SpaceX rocket.

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