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. Last Updated: 07/27/2016

Space Industry Deal

MOSCOW -- Russia's space industry signed $470 million worth of contracts with foreign partners in 1997 and hopes to raise that figure to $640 million in 1998, Interfax reported.

The industry projects having deals worth a total of $1 billion in 2000, Interfax said Saturday, citing state sources.

Russia, which inherited the bulk of the space-manufacturing capabilities of the former Soviet Union, signed cooperation contracts with Bulgaria, China, India, Japan and the United States.

The inter-governmental pact signed with the United States allows Russia to offer several commercial services, notably to launch Inmarsat-3 and Astra satellites using its Proton rockets. Eighteen of Russia's 48 satellite launches last year were on behalf of U.S. firms.

Interfax said Russia had the potential to rake in $50 million from the space market over the next 10 years.