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:
July 14, 2019

At the Baikonur cosmodrome the crews of the “Soyuz MS-13” spacecraft are preparing for the upcoming launch. The main crew includes cosmonaut Alexander Skvortsov, astronauts…

full story
June 10, 2015

Unexpected Soyuz TMA-15M thrusters igniting still has not affected the date of Soyuz landing. The crew comprising Anton Shkaplerov (Roscosmos), Samantha Christoforetti (ESA) and Terry…

full story
May 15, 2014

On May 15, 2014 GCTC saw formal parting events: ISS 40/41 main and back up crews were leaving for Baikonur spaceport where they will be…

full story
February 18, 2025

Roscosmos has announced the date of undocking of the Progress MS-28 cargo ship from the International Space Station (ISS). The space vehicle will leave the…

full story
February 5, 2016

One more ISS crew successfully completed training on survival in marshy and forested area. For three days Roscosmos cosmonaut Sergey Ryazansky, NASA astronaut Randolph Bresnik…

full story
November 1, 2013

The next launch of Russian-Ukrainian carrier rocket “Dnepr”, based on intercontinental ballistic missile (ICBM) RS-20 (classified by NATO as the SS-18 Satan), will take place…

full story
August 11, 2014

The launch of four Rezonans satellites aimed at Earth’s radiation belt  exploration is planned for 2017-2018,  – Doctor of Physical and Mathematical Sciences  Anatoly Petrukovich…

full story
April 5, 2021

At the Baikonur Cosmodrome, the ascent unit with the Soyuz-18 crewed spacecraft was transported for the final assembly of the integrated launch vehicle. Today specialists…

full story