Russia to invest $7 bn in space programmes in 2011

By IANS/RIA Novosti,

Moscow : Russia has earmarked about 200 billion rubles ($7 billion) for space programmes in 2011, Prime Minister Vladimir Putin has said.

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Putin said Russia would develop a whole range of new capabilities over the next five years.

“We need new-generation space equipment, featuring greater reliability and service life,” he said.

This requires a “deep modernisation” of space industry enterprises, as well as significant investment in research and development programmes, the prime minister said.

Putin directed the space agency Roscosmos, in conjunction with the Russian Academy of Sciences, to draw up long-term space research plans by August this year.