[Satellite Today 12-31-08] The Indian Space Research Organization (ISRO) is developing a next-generation rocket that it claims would cut satellite launch costs by half, ISRO announced Dec. 30.
In an announcement to press officials at a KEB Engineers commemoration lecture, ISRO chairman Madhavan Nair said the new rocket, GSLV-Mk III, is expected to be operational in 2010 and would make India the cheapest and lowest cost satellite launch services provider in the world.
Top News India also reports that GSLV-Mk III is envisaged to launch four-ton satellites into geosynchronous transfer orbit, according to ISRO officials.