December 3, 2013
Categories: Roscosmos, Russia, URSC

Russian president Vladimir Putin signed a decree on creation of United Rocket and Space Corporation on the basis of JSC “Scientific research institute for space instrument development”.

The text of the act is posted on official legal information webpage.

Space industry reform supposes creating United Rocket and Space Corporation (URSC) consolidating all enterprises of space industry while Scientific Institutions and ground infrastructure organizations stay under Roscosmos jurisdiction.

JSC “Scientific research institute for space instrument development” should hold 100% of stocks before the United Corporation will be formed. According to the decree the stocks of space enterprises will be included in Corporation’s authorized stock, some of space enterprises will be reorganized into joint stock companies. As the decree sates these changes will take  about 2 years.

Image credit – Khrunichev space center

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