The United Rocket and Space Corporation has been registered in Russia, Russian Deputy Prime Minister Dmitry Rogozin wrote in his microblog in Twitter on Thursday.

"The United Rocket and Space Corporation has been registered! We are beginning a large-scale reform of the domestic space industry," he wrote.

In Desember 2013, Russian President Vladimir Putin signed a decree establishing the United Rocket and Space Corporation on the basis on the Research Institute of Space Instrument-making.

In line with the decree that was published on the official Internet portal of legal information, a number of federal state unitary enterprises of the space sector were to be reformed as open joint-stock companies with 100 percent of their stock owned by the federal government.

These stakes minus one share in each of them were to be transferred to the authorized capital of the United Rocket and Space Corporation.

Source: Voice of Russia