12:58 30.04.2013

Alcantara Cyclone Space board meets in Kyiv to discuss Cyclone-4 project

2 min read

The board of directors of the Ukrainian-Brazilian Alcantara Cyclone Space company met in Kyiv on April 23-24 to discuss a project for the creation of a Cyclone-4 space rocket complex at the Alcantara launch site in Brazil, according to the press service of the State Space Agency of Ukraine.

As the press service said, the sides in particular considered the creation of the ground complex of the Cyclone-4 project and facilities of the launch area's general infrastructure, and reviewed and approved the Alcantara Cyclone Space company's annual report and financial statements for 2012.

"The parties agreed to resolve a number of pressing issues for the further effective implementation of the project," reads a statement.

Ambassador of Brazil to Ukraine Аntonio Fernando Cruz de Mello attended the board's meeting.

The sides agreed that the next meeting of the company's board of directors is to be held in Alcantara (Brazil) in August 2013.

The statement notes that during talks held in Kyiv on April 26 between representatives of the competent authorities - Head of the Brazilian Space Agency Jose Raimundo Braga Coelho and Deputy Head of the State Space Agency of Ukraine Serhiy Zasukha, the sides achieved positive agreements to ensure the first launch of the Cyclone-4 launch vehicle.

Ukraine and Brazil signed an agreement in 2003 on long-term cooperation in constructing the Cyclone-4 space rocket complex at Brazil's Alcantara Space Center. The construction of the launch center was started in autumn 2010. The area of the complex will be around 50 hectares.

The project costs are estimated at $488 million, with the two countries sharing the expenses fifty-fifty.

In August 2012, the board of directors of Alcantara Cyclone Space raised the issue of increasing the funding for the project to $940 million.

Ukraine plans to raise a loan of around $320 million (UAH 2.72 billion) under state guarantees in 2013 for the implementation of a joint project with Brazil to build the Cyclone-4 space rocket complex at the Alcantara Launch Center in Brazil.

The first launch of the Cyclone-4 from the Alcantara Launch Center is scheduled for November-December 2014.

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