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:
April 8, 2013

“The construction of launchpad for Angara heavy booster may start in 2015 instead of 2016 as was planned earlier, – Roscosmos Head Vladimir Popovkin stated….

full story
September 4, 2013

Joint operations on assembling of Proton-M booster nose cone for Astra-2E telecommunication satellite launch started in 92-A50 integration building of Baikonur spaceport, – Khrunichev Centre…

full story
April 14, 2014

Russian President Vladimir Putin expressed the hope for future cooperation with International Committee on Space Research (COSPAR). On Friday, April 11 Vladimir Putin had a…

full story
March 30, 2016

Today at 17.15, Moscow time, Progress M-29M cargo vehicle undocked from Zvezda module of the ISS. In the course of Progress free flight from March…

full story
December 2, 2015

ISS-46/47 mission prime and back-up crews started passing final prelaunch trainings at Baikonur spaceport. The prime crew includes Roscosmos cosmonaut Yuri Malenchenko, NASA astronaut Timothy…

full story
May 13, 2019

The GLONASS national navigation satellite system will receive five new satellites in 2019. This is stated in the GLONASS Development Strategy until 2030, reports TASS…

full story
December 1, 2014

The second Russian new generation navigational satellite Glonass-K was successfully orbited, – Russian Ministry of Defence Aerospace Defence troops press-office representative colonel Alexey Zolotukhin reported….

full story
May 18, 2015

ISS orbit was adjusted on May 18,2015. According to ballistic and navigational support service specialists calculations progress M-26M cargo vehicle thrusters were ignited at 03.30,…

full story