“The forthcoming Global Investors Meet (GIM), scheduled for January 7 and 8, 2024, in Chennai, is preceded by the signing of Memoranda of Understanding (MOUs) between COSMICPORT SPACE TECHNOLOGY PRIVATE LIMITED and the Tamil Nadu government. COSMICPORT SPACE TECHNOLOGY PRIVATE LIMITED, a startup specializing in space and defense technologies with a focus on developing launch vehicles and satellites, has committed an investment of 200 crores as per the signed MOU.
Leading up to the GIM 2024 event, representatives of COSMICPORT SPACE TECHNOLOGY PRIVATE LIMITED were presented with the executed MOU by MP Kanimozhi Karunanidhi during the District Investment Conclave held on November 30, 2023. Currently, COSMICPORT SPACE TECHNOLOGY PRIVATE LIMITED is in the process of constructing its headquarters in the Thoothukudi district. The initial Research and Development (R&D) facility, spanning 10,000 square feet on a total area of 1.4 acres, is underway, and future expansion activities are anticipated to occur between 2025-2026.
This state-of-the-art facility is designed to accommodate 100 engineers dedicated to the advancement of reusable launch vehicles, Synthetic Aperture Radar (SAR), and Light Detection and Ranging (LIDAR) satellites. The ongoing developments underscore the company’s commitment to cutting-edge technology and contribute to the thriving landscape of space exploration and defense.”
