MoU8 Sept 2024, 07:09 pm
NIBE Ltd Subsidiary Signs MoU with Leading Infra & Defence Companies for Private Earth Observation Constellation
AI Summary
NIBE Ltd announced that its subsidiary, Nibe Space Private Limited, has signed a Memorandum of Understanding with leading infra & defence companies and start-ups of India. The aim is to build and operate a Private Earth Observation Constellation & corresponding ground segment to provide constellation on lease basis, offer images and analytics as a service. The MoU is valid for a period of 12 to 24 months and the parties are expected to sign a comprehensive, long term definitive agreement within the time period after due negotiations and discussion.
Key Highlights
- NIBE Space Private Limited has signed MoU with leading infra & defence companies and start-ups
- The aim is to build and operate a Private Earth Observation Constellation & corresponding ground segment
- The constellation will be provided on lease basis, offer images and analytics as a service
- The MoU is valid for a period of 12 to 24 months
- Comprehensive, long term definitive agreement expected within the time period after due negotiations and discussion