Report: VEB mulls financing new in-orbit connection satellitesPM - All News - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Report: VEB mulls financing new in-orbit connection satellitesPM

MOSCOW, Aug 9 (PRIME) -- The supervisory board of Russian state bank Vnesheconombank (VEB) is considering financing creation of new in-orbit satellites, business daily Vedomosti reported Thursday citing the boards head and Prime Minister Dmitry Medvedev.

Were talking about the manufacture of new in-orbit satellites of connection, television and radio broadcasting on the basis of the Russian Satellite Communications Company, Medvedev said at a meeting of the board. He added that participation in the development of digital technologies is one of VEBs tasks.

Amid rapid evolution of the industry and tough competition, Russian companies should speed up work and replace obsolete space apparatuses with more powerful ones, more advanced, more high-technological.

VEBs money will strengthen positions of local operators on the global market of connection and will support local enterprises of the defense and industry complex, Medvedev said.

President Vladimir Putin said in mid-July that Russia should launch 640 space satellites of the project Sfera, or Sphere, from 2022 till 2028. The countrys active satellite constellation currently counts 150 apparatuses.


09.08.2018 16:52
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