PT Indosat Tbk (ISAT), one of the largest telecomunication companies in Indonesia, established a new company namely PT Palapa Satelit Nusa Sejahtera (PSNS) according to Indonesia Stock Exchange (IDX) announcement that released today. This Company is a joint venture company with PT Pasifik Satelit Nusantara (PSN) and PT Pintar Nusantara. Indosat hold 35%, while PT Pintar Nusantara hold 55% and PSN hold 10%.
Today PSNS signed a satellite purchase agreement with China Great Wall Industry Corporation (CGWIC), a Chinese satellite producer. The signing of a purchase contract worth approximately US$ 220 million.