After Russian spaceport firm fails to pay bills, electric company turns the lights off

After Russian spaceport firm fails to pay bills, electric company turns the lights off

The Vostochny spaceport, a cornerstone of Russia's ambitious space program, has been plagued by challenges since its inception over a decade ago. Aimed at modernizing launch operations and enabling the country to launch rockets from its own territory, the project has faced numerous setbacks, including allegations of corruption and mismanagement. Construction of the spaceport began in 2011 and has been marred by a series of controversies, including hunger strikes and reports of unpaid laborers. Notably, a scandal involving the embezzlement of $126 million and the arrest of a man driving a diamond-encrusted Mercedes for stealing $75,000 further tarnished the initiative's reputation. Despite these issues, some progress has been made, with successful launches from the facility's two operational pads in recent years. Currently, the main contractor, Kazan Open Stock Company (PSO Kazan), is facing severe financial scrutiny. The Far Eastern Energy Company recently cut off electricity to parts of the spaceport under construction due to PSO Kazan's failure to settle $627,000 in outstanding energy bills. The energy provider stated that this action was necessary to safeguard the region’s energy system. In addition to halting power supplies, the energy company plans to initiate bankruptcy proceedings against PSO Kazan. They have expressed frustration over the contractor's lack of response to repeated demands for payment. The situation could escalate further if the debt remains unpaid. Despite these financial troubles, officials at Vostochny have reassured that the two active launch pads are not impacted by the ongoing dispute. Moreover, they claim that PSO Kazan is committed to resolving its debts by the end of November, though skepticism is warranted given the project's troubled history.

Sources : Ars Technica

Published On : Nov 06, 2025, 17:55

Computing
Nationwide Protests Erupt Against AI Data Centers as Communities Demand a Voice

A wave of grassroots activism swept across the United States on Saturday, as citizens rallied against the expansion of A...

Business Insider | Jul 18, 2026, 20:45
Nationwide Protests Erupt Against AI Data Centers as Communities Demand a Voice
AI
EU Pushes for Fair Play in AI Assistants, Sparking Tensions with Google and Apple

In a bold move, the European Commission is challenging tech giants Google and Apple over their dominance in the AI assis...

CNN | Jul 19, 2026, 10:40
EU Pushes for Fair Play in AI Assistants, Sparking Tensions with Google and Apple
Startups
Accenture Unveils Innovative Salary Model to Enhance Employee Compensation

Accenture has introduced a fresh approach to salary increases, dividing approved raises equally between base salary and ...

Business Today | Jul 19, 2026, 13:30
Accenture Unveils Innovative Salary Model to Enhance Employee Compensation
Science
India's Groundbreaking Leap in Precision Timing with White Rabbit Technology

In the realm of modern digital infrastructure, time stands as an unseen yet crucial component. Every mobile call, financ...

Business Today | Jul 19, 2026, 10:50
India's Groundbreaking Leap in Precision Timing with White Rabbit Technology
Startups
TSMC Doubles Down on Arizona Expansion Amid Booming AI Demand

Taiwan Semiconductor Manufacturing Company (TSMC) is ramping up its operations in Arizona, responding to what its Chief ...

CNBC | Jul 19, 2026, 23:15
TSMC Doubles Down on Arizona Expansion Amid Booming AI Demand
View All News