$87mn to be invested in Gagarin's Start modernization at Baikonur

BAIKONUR. KAZINFORM Roscosmos State Space Corporation and the Russian Direct Investment Fund (RDIF) signed an agreement on modernization of the Gagarin's Start at Baikonur spaceport, Kazinform correspondent reports.

RDIF, a sovereign fund of the Russian Federation, in partnership with Middle East investors and GK Launch Services (subsidiary of Roscosmos Corporation) signed an agreement on investing $87m in Baikonur cosmodrome infrastructure modernization.

The project aims at modernization of the launch pad No.1 (Gagarin's Start) and its further operation for the launch of Soyuz-2 carrier rockets.

The investments of the RDIF and its partners will let renovate ground infrastructure of the world's largest cosmodrome, increase competitiveness of space industry at the global market of launch services and commercialize the best space technologies, a press release from Roscosmos reads.