September 5, 2013
Categories: Roscosmos, Russia, Space

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.

More from this category:
June 8, 2020

Khrunichev Centre is going to resume the production of Rokot light conversion boosters on the basis of RS-18B ballistic missiles currently being removed from combat…

full story
June 19, 2020

The launch of Angara-A5 heavy booster preliminary planned for November 03 according to the source. Thus the first from 2014 and the second in history…

full story
August 8, 2013

Launches of Russia’s Proton rockets will restart in September, ending a suspension imposed after an accident last month, the head of Russia’s Federal Space Agency said Monday. As…

full story
February 12, 2019

The management of the GCTC, under the leadership of the head of the Center Pavel Vlasov, met with the delegation of the Moscow Aviation Institute…

full story
October 3, 2018

Today, on October 3, RSC “Energia” specialists at the Baikonur cosmodrome conducted a design inspection of the “Soyuz MS-10” spacecraft and performed technological operations to…

full story
December 13, 2019

Members of the ISS-63 main crew – Roscosmos cosmonauts Nikolay Tikhonov and Andrey Babkin performed a training on the “Exit-2” simulator, using a new cyclogram….

full story
December 1, 2018

Today, on December 1, the carrier rocket “Soyuz-FG” with manned spacecraft “Soyuz MS-11” was rolled-out from the assembly and testing facility and installed at the…

full story
November 27, 2013

Humanlike robot designed for spacewalks will be demonstrated to the specialists and journalists in Star City on November 27,  GCTC representative reported. The robot is…

full story