"The new launching method uses a moving launchpad. The satellites are launched from the sea at the equator," Kvaerner said in a statement.
It said sea-based launches provided more safety and flexibility for launch contractors. Investment decisions on the next phase of the project would be taken within six months, it added.
Kvaerner will be responsible for developing a semi-submersible ramp-type platform from which the rockets would be launched. Kvaerner already builds semi-submersible oil and gas platforms.
The Russian and Ukrainian companies have experience in space technology while Boeing is experienced in high technology, Kvaerner added..
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