A move to consolidate the Russian space industry under a single government-controlled corporation appears to be moving forward, according to a report from RIA Novosti of September 4 comments from Deputy Prime Minister Dmitry Rogozin:
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.
Roscosmos will continue to serve as the controlling executive body of the new organization and is apparently expected to more than double in size as a result of the consolidation. The long-discussed move is intended to help resolve the quality issues that have plagued the Russian space industry these past few years. So far, changes in leadership and innumerable review panels have failed to produce the desired effect.
Read more about Rogozin’s announcement here.