By Venkatachari Jagannathan Chennai, July 2 : The NewSpace India Ltd, the commercial arm of Department of Space (DOS) apart from buying satellites from Indian Space Research Organisation (ISRO) can also lease assets from the latter, said K. Sivan, Secretary, DOS. Sivan, also the Chairman of ISRO told IANS: "NSIL will acquire three communication satellites- GSAT 20, GSAT 22 and GSAT 24- made by ISRO. The company will be the owner and operator of the satellites." Queried about transferring ISRO's other satellites to NSIL, Sivan said: "We are thinking about asset transfer on lease basis. Plans are there." Presently there are about 17 communication satellites, eight navigation satellites (six under operation, two in messaging services) and 17 earth observation satellites of ISRO under operation. According to Sivan, the GSAT 24 satellite will be launched by Ariane rocket belonging to European space agency Arianespace. "The GSAT 24 will be ready for launch by this November/December or next January. The other two satellites GSAT 20 and GSAT 22 are under production," Sivan added. The GSAT 20 to be launched by Indian rocket Geosynchronous Satellite Launch Vehicle Mark III (GSLV Mk III) will be fully propelled by electric power. The satellite will move from the geostationary transfer orbit to geosynchronous orbit with electric propulsion. Incorporated in 2019, the NSIL's broad mandate includes owning earth observation and communication satellites, providing space based earth observation and communication services, building and launching satellites as per demand, building rockets through Indian industries, providing launch services and technology transfer to Indian industries. Sivan said NSIL is also working towards transfer of Polar Satellite Launch Vehicle (PSLV) to the private sector. The NSIL has issued the Request for Proposal manufacture of PSLV rocket to short listed companies. The company has also signed 13 Technology Transfer Agreements till date for transferring ISRO developed technologies to industry. (Venkatachari Jagannathan can be contacted at v.jagannathan@ians.in) /IANS