Russia to reorganise space industry into four ventures

Moscow, July 6: Russia will restructure its space industry into four ventures, incorporating a majority of all space industry enterprises.

Under a new strategy for the sector's development discussed by the cabinet today the country will overhaul production and testing facilities in the industry by 2015, develop science and technical, and technological potentials, RIA Novosti today reported, quoting a highly-placed source.

''Improving output quality, increasing competitiveness, strengthening positions on world markets, developing private-state partnership and improving staff training will be given top priority under the new strategy,'' the source said.

The strategy envisages six major integrated structures to be formed. ''They will be later turned into three or four core enterprises comprising 60 per cent of the industry,'' the source added.

A total of 112 ventures now operate in the industry, including 66 research and development and 31 industrial establishments. The sector employs 250,000 people.

Under the plan, production is expected to grow eight per cent a year and Russia's share on the world space market will increase to about 12 per cent.

Speaking at the meeting, Russian Prime Minister Mikhail Fradkov noted Russia continued to be leader in rocket building.

''Rocket building is the sphere, in which we can really stand competition. Russia may keep that advantage,'' he said.

UNI