Posted: Wed, Feb 26, 2003, 1:44 PM ET (1844 GMT)
The European Space Agency and several companies signed contracts Tuesday to complete the development of Vega, a small launch vehicle. ELV, an Italian company jointly owned by FiatAvio and the Italian space agency ASI, will be the prime contractor for the Vega, with FiatAvio developing the booster’s P80 first stage. The P80, whose development is supported by the French space agency CNES, is also designed to test technologies for future versions of the solid boosters used by the Ariane 5. The four-stage Vega will be able to place up to 1,500 kg into a 700-km circular orbit. Arianespace will operate the Vega, which will be launched from Kourou at a rate of about four a year. The total value of the development contracts is 261 million euros (US$282 million.)

Related Links:

•  ESA press release