Investors Agree To Pour $5.5Bln Into Russian Satellite Constellation Sfera - Roscosmos

Private investment in Russia's multifunctional satellite constellation Sfera will amount to 350 billion rubles ($5.5 billion), and the investors have already been found, the director of Russian State Space Corporation Roscosmos' department for prospective programs said on Thursday

MOSCOW (UrduPoint News / Sputnik - 20th February, 2020) Private investment in Russia's multifunctional satellite constellation Sfera will amount to 350 billion rubles ($5.5 billion), and the investors have already been found, the director of Russian State Space Corporation Roscosmos' department for prospective programs said on Thursday.

"We plan to implement this program using both allocations from the Federal budget and other sources.

As of now, the [investment] volume is quite big for the space sphere, as it exceeds 350 billion rubles. There are both domestic operators and some investment companies among the private investors," Sergey Prokhorov said at a roundtable on satellite communication, held in the Russian parliament.

The Sfera constellation will include 600 satellites. The constellation, designed to provide comprehensive communication, navigation and remote Earth sensing services, is expected to be deployed from 2023-2028.