Russian Prime Minister Dmitry Medvedev has signed a government decree on the formation of the United Rocket and Space Corporation (URSC) in the Research Institute for Space Instrument Engineering.

The decree, which was posted on the government website, orders that the package of shares in the open joint stock company Research Institute for Space Instrument Engineering (Moscow) that is now federal property should be increased to 100% and it should be subsequently renamed open joint stock company United Rocket and Space Corporation.

Under the decree, the building located at Berezhkovskaya Embankment 22, which was previously owned by the Center for the Operation of Ground-Based Space Infrastructure Objects, and the land site and contributed by the state to the charter capital of URSC.

The decree also orders that some federal state unitary enterprises should become joint stock companies and 100 percent of their shares should be transferred to the state and 100 percent minus one share should subsequently be contributed by the state to the charter capital of URSC.

The information in this section is provided by the Interfax news agency and is intended for personal use only. It may not be reproduced or distributed in any form without express permission from Interfax. To request permission to republish, email: ifaxru@interfax.ru