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. Last Updated: 07/27/2016

Official Eyes Space Company

The Russian Space Agency needs to be turned into a state corporation for a period of five to seven years and then reorganized into a joint-stock company, agency head Vladimir Popovkin said in an interview with Vedomosti published Monday, as cited by Interfax.

"The state corporation is needed for a maximum of five to seven years in order to clean everything up, create several divisions that produce engines, rockets, satellites for near and deep space. Then it should become a joint-stock company," Popovkin said.

He said the agency should become a state corporation to approach international standards and resemble Boeing or Lockheed Martin. Popovkin added that the corporation should be given control over space companies currently run by the Economic Development Ministry.

(MT)

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