Funding Proceeds for More GLONASS-K1 Satellites
-
News courtesy of CANSPACE Listserv.
According to its in-house newspaper, Siberian Satellite, the joint-stock company “Information Satellite Systems – Academician M.F. Reshetnev” has signed two loan agreements with the Russian VTB Bank (formerly Vneshtorgbank) worth 2.5 billion rubles ($38 million) to finance the production of GLONASS-K navigation satellites.
Presumably, this refers to the decision to produce more GLONASS-K1 satellites as recently announced.
The Russian government owns 61% of VTB.
Subscribe to GPS World
If you enjoyed this article, subscribe to GPS World to receive more articles just like it.
Follow Us