Russian Government Sets Up GLONASS Company

January 8, 2015  - By
Image: GPS World

The Russian government is establishing a joint stock company named “GLONASS” with 100-percent participation of the state, according to the website of the Russian Cabinet, as reported by Ria Novosti.

Russian President Vladimir Putin in July 2014 ordered the government to develop and adopt a roadmap for the creation of an open joint-stock company “GLONASS” with 100-percent state participation. According to the plan, the property complex of the state automated information system “ERA-GLONASS” will be transferred to the share capital of the newly created company. ERA stands for Emergency Response in case of Accidents. “To establish a joint-stock company ‘GLONASS’, 100 percent of the shares of which are federal property… Set the size of the share capital of the company is 100 million rubles,” said the executive order.

Deputy Prime Minister Dmitry Rogozin in September welcomed the establishment of the company, calling it a first step in the commercialization of space-based services.

The authorities intend to develop the GLONASS infrastructure to enhance the quality and quantity of services. A development strategy for the new company is due March 30.

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