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Macron announces over $600mn investment in space sector
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IANS | 13 Jan, 2021
France will invest 500 million euros ($609.5 million) in boosting
innovation in the space industry in an attempt to battle outgrowing US
and Asian competition, President Emmanuel Macron has said.
During
his visit to ArianeGroup aerospace company in Vernon in northern France
on Tuesday, Macron said the two-year investment plan "will cover
innovations related to carrier rockets, speed up our projects and allow
us to go faster in global competition," Xinhua news agency reported.
He
said that 30 million euros will be invested in the development of new
rocket engine and hydrogen propulsion technologies, stressing that
"France must remain a country of innovation and production where there
is a future for space."
"This is the area that has seen growing
American and Asian competition in recent years. ... That is why we need
to organise ourselves, reduce undue intra-European competition, continue
European investment and innovate more," he said.
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