The money will be spent on building 30 Ariane-5 launchers from 2005-2009 and on paying for calibration flights for the 10-tonne Ariane-5 ECA launcher, which failed on its maiden flight in 2002, spokesman Franco Bonacina said.

The board also earmarked 223 million euros for work that will enable ESA's space base in Kourou, French Guiana, to launch Russia's Soyuz rockets.

Arianespace, the company that markets the Ariane launchers, will also contribute 121 million euros to this project.

SPACE.WIRE