Ukraine targets 50 percent increase in space industry output by 2017

The Ukrainian government aimed to increase local space industry output by 50 percent over the next five years through closer cooperation with investors, Prime Minister Mykola Azarov said here Wednesday.

"We are setting up a program to implement research and development projects in the space industry on the basis of public-private partnerships," Azarov told a cabinet meeting.

Ukraine planned to attract about 182.5 million U.S. dollars from private investors for the program, Azarov said, adding 140 million dollars would be allocated from the state budget.

Goals outlined in the program included creation of a local geo-information system and a national satellite communication network, as well as spacecraft building, the premier said.

He said, as part of the program, Ukraine planned to launch the Sich-2-1 Earth remote sensing satellite, the Microsat research and engineering satellite and the UMS-1 spacecraft, which is being developed by Ukrainian students from four universities.

Source: Xinhua News Agency