Cangyu Space, Angkasa-X in satellite tie-up

CYBERJAYA: China-based commercial aerospace company Cangyu Space Technology plans to invest about US$100mil, as part of a strategic commitment, to build a shared satellite constellation and a real-time remote sensing data platform in Malaysia for Asean.

CangYu chief executive officer Liu Wei said the partnership with space technology company Angkasa-X group, to span five to 10 years, marks its first international collaboration.

“The investment, among others, involves the development of geostationary earth orbit satellite, more than 10 low-earth orbit satellites and a ground station,” he said after a signing ceremony with Angkasa-X Group yesterday.

Angkasa-X group executive chairman and chief executive office Datuk Dr Sean Seah said the two strategic partners will invest in the setting up of Angkasa-X Space Tech Park, the assembly, integration, testing facility for satellite as well as an artificial intelligence data centre. — Bernama