A private Russian space company plans to launch the SR NET satellite for broadband internet access within two years, SR Space CEO Oleg Mansurov has told TASS in an interview on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

"We plan to launch the spacecraft and demonstrate the technology within the next two years," he said.

Mansurov went on to say that lab tests were currently under way. The project’s next stage will include experiments in the atmosphere, with the use of drones and high-altitude balloons.

"Next, equipment will be prepared. We are now working on the spacecraft’s payload," he added.

Last year, Mansurov told TASS that SR NET was designed to become the first Russian private rival of the US Starlink system.

The 26th St. Petersburg International Economic Forum (SPIEF) — Russia’s showcase annual economic and business event — is being held on June 14-17. The theme of this year’s forum is: "Sovereign Development as the Basis of a Just World: Joining Forces for Future Generations." TASS is the official information partner of the event.