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Gazprom's satellite assembling plant to be finaced by Russia's VTB

November 19, 2014, 17:48 UTC+3 MOSCOW

Gazprom will use satellites in some of its exploration projects

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© ITAR-TASS/Grigory Sysoyev

MOSCOW, November 19. /TASS/. Russia’s Vnesheconombank (VEB) will finance construction of a plant to assemble space vehicles at facilities of Gazprom Space Systems in the Moscow Region, CEO of Gazprom Investproekt Oleg Nagovitsyn said in an interview with a corporate magazine released on Wednesday.

Both companies are subsidiaries of gas giant Gazprom.

“As a result, a unique facility to produce space satellites meeting the highest international standards will appear in Russia. All this signifies strategic significance of the plant for Gazprom and for Russia as a whole. VEB will provide a loan (for the project),” Nagovitsyn said.

The production site will be built in 2018, he said. Gazprom will use satellites in some of its exploration projects.

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