You are here: Home » News-IANS » Politics
Business Standard

Failed rocket launches cost Russia $542m between 2010-2018

IANS  |  Moscow 

Russia has lost some 35 billion rubles ($542 million) owing to failed rocket launches between 2010-2018, the government said on Tuesday.

"There were 11 failed launches of spacecraft during this period," the Kremlin said in a statement, which outlined the cost of the failures. It said the figure was three times more than what was spent on insurance.

Almost 20 billion rubles in damages were covered by insurance, but throughout the period there were several failed launches that had not been insured, Efe news reported.

As a consequence, Russia's space agency Roscosmos suffered damages of 10.5 billion rubles, according to the statement.

The government mentioned the breakdown of a Proton-M rocket in 2013 with three Glonass-M satellites, whose launch was not insured and entailed damages worth 5 billion rubles.

In the period that ends 2021, Roscosmos plans to launch a total of 56 spacecraft, including eight manned Soyuz capsules.

--IANS

soni/

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, May 28 2019. 19:08 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU