Russia's Energia space rocket corporation and Astrium, an aerospace subsidiary of the European Aeronautic Defense and Space Company (EADS), will build a joint venture in Russia in about two years, Energia head, Vitaly Lopota, said on Tuesday.

The joint venture will manufacture optical, electronic, radar surveillance systems and communication satellites, and will be an equal partnership combining "the competitive advantages of our organizations," he said.

"It is important for us that everything there is up to the finest international standards," the Energia chief added.

The facility will be based in Korolyov, just outside Moscow, he said.

Source: RIA Novosti