The satellite, called Saral, will carry an altimetre (ALTIKA) for studying the sea surface heights and an ARGOS payload, which is a satellite-based data collection platform.
"The project is a joint project of the Indian Space Research Organisation (ISRO) and the French National Space Agency (FNSA). The ALTIKA and ARGOS payloads are built and supplied by the French space agency. The satellite building and launching are the responsibilities of ISRO," Chavan told the Lok Sabha.
The minister said the satellite is likely to be launched in 2011.