Topic: Russian space programs
- Russian Deputy PM Slams Space Industry, Urges Reform
- Proton-M Rocket Downed by Reversed Sensors – Roscosmos
- Russia’s Space Program Is Ineffective – Audit Chamber
- Police Uncover $456,000 Baikonur Space Center Theft
MOSCOW, September 4 (RIA Novosti) – Deputy Prime Minister Dmitry Rogozin confirmed plans on Wednesday to consolidate Russia’s space industry under a single state-controlled corporation within a year.
The United Rocket and Space Corporation, to be formed as a joint-stock company, will contain all organizations in the aerospace industry, with the exception of a few defense companies, he said. Plans for the restructuring were first announced in July.
Consolidation will help the government pursue a “unified technical policy” in the space sector as well as remove current redundancies and avoid potential ones, Rogozin said, adding that the new corporation would absorb 33 space organizations, including 16 enterprises.
Initially 100 percent controlled by the government, the corporation will undergo an initial public offering (IPO) after two or three years, the deputy prime minister said.
Russia’s federal space agency, Roscosmos, will remain the corporation’s controlling executive body. It plans to increase its personnel from 190 to 450 people.
The federal government should also take a controlling share in Rocket and Space Corporation Energia as part of the consolidation, Rogozin added.
The state currently has a 38 percent stake in Energia, which is the developer of the Soyuz and Progress spacecraft and one of the leading enterprises in Russia’s space industry.
Russia’s space sector has been plagued by complaints of inefficiency, lack of productivity and lack of oversight, following a string of rocket failures and satellite crashes over the last several years causing billions of rubles in losses.
Most recently, a Russian Proton-M rocket crashed shortly after takeoff in July, destroying the three satellites it was carrying for the Glonass navigation system, Russia’s answer to the United States’ Global Positioning System (GPS).
The Russian space industry’s proposed consolidation, the government says, will help increase oversight and lower the accident rate.
Add to blog
You may place this material on your blog by copying the link.
Image Galleries: Yury Gagarin: A down-to-earth person
Infographics: The Linguistic Diversity of the Planet
Ukraine has not preserved its 1991 borders. The signing of the Geneva memorandum on April 17 reaffirmed the willingness of Russia, the United States and EU countries to reach a compromise. While the sides continue to trade tough talk and symbolic sanctions, the Kremlin and the White House are also holding a parallel dialogue on the coordinated geopolitical revision of Eastern Europe.