The formation of the United Rocket and Space Corporation (URSC) will be complete in approximately 18 months, Russian Deputy Prime Minister Dmitry Rogozin told reporters on Monday. The decree establishing the URSC signed by the president is "big news" enthusiastically welcomed by all executives of space enterprises and design bureaus, he emphasized.

"The routine will take approximately 18 months until the corporation is fully established. Yet today is its birthday," the deputy prime minister said.

The decree establishing the URSC signed by the president is "big news" enthusiastically welcomed by all executives of space enterprises and design bureaus, he emphasized.

It is of paramount importance that the URSC decree was issued immediately after a series of conferences on the development and modernization of the Russian Armed Forces that President Vladimir Putin held in Sochi last week.

"That is an enormous beginning, and we are ready for it," he stressed.

The president's decree was also good news for Russian partners in Belarus and Ukraine, the deputy prime minister added.

"We have a very close relationship with Ukraine: the Yuzhnoye Design Bureau and Yuzhmash have laid invaluable technological groundwork. It is time we make our conversation more oriented toward specific goals," he said.

Source: Voice of Russia