Russia's new space launch center construction, another ambitious project?

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The former missile defence base of Vostochny
Russia will launch its manned space missions from a new centre in the Far East in 2018, prime minister Vladimir Putin said, as the country seeks greater independence for its space programme.
Putin made the comments as he inaugurated the start of construction for the new cosmodrome at the former missile defence base of Vostochny, outside the town of Uglegorsk, 3,600 miles east of Moscow, and a few hundred miles away from China.
Putin underlined on Saturday the significance of the planned new space center in Russia’s Far East.
“We began talking about the necessity of building such a space center in 2005,” Putin, speaking at the Amur Region site where the Vostochny Space Center is to be built, said.
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The Baikonur space center
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The Plesetsk space center
Russia currently uses two launch sites: the Baikonur space center in the Central Asian Republic of Kazakhstan, which it has leased since the collapse of the Soviet Union, and the Plesetsk space center in northwest Russia.
“The creation of a new space center…is one of modern Russia’s biggest and most ambitious projects,” Putin went on. “It will give us the opportunity not only to confirm Russia’s leading technological status…but will give hundreds, perhaps thousands, of young specialists the chance to prove their talents.”
He also said that while Russia had signed an agreement with “friendly” Kazakhstan on the continued use of Baikonur until 2050, the Kazakh center alone was not sufficient for “such a powerful space force as Russia.”
Deputy Prime Minister Sergei Ivanov said earlier in the day that all Russian manned space fights would be launched from the Vostochny Space Center from 2018,
He also said that cargoes and satellites would be launched from the space center from 2015.
The new space center, which will employ 20,000-25,000 people, will ensure Russia's independence in the launch of piloted space vehicles, currently carried out at Baikonur.
Construction is expected to start in 2011, with design and survey work already under way.
Putin said in July that Russia would allocate 24.7 billion rubles (around $811,000) for the next three years for the construction of the space center.
"I hope that the Vostochny Space Center will become the first civilian national space center, and [will] guarantee full independence of Russia's space activities," he said.  (From RIA Novosti)
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Russian Prime Minister Vladimir Putin unveils a monument to mark the start of construction at the site of a new launch facility
Like in Soviet times, Russia dominates the global space industry, carrying out 37% of last year’s 78 launches around the world, according to the U.S.-based Space Foundation non-profit group.
But it faces growing competition from Europe, Asia and the United States as the market becomes increasingly commercialised.
Prime Minister Vladimir Putin said Russia will build the new space launch site as part of its efforts to defend its share of the increasingly competitive space launch market.
Analysis also points out several reasons for the selected location for Russia's new space launch site – Vostochny.
Compared with other alternatives of locations, such as Sakhalin Island and Vladivostok, the possibility that wrecks of spacecrafts fall in the Chinese territory is much lower.
Besides, the new space center is built based on the former missile defense base, where security is ensured.
A low latitude area is one of key favorable factors for the launch of spacecrafts. The latitude of the new launch site is close to that of the Baikonur space center at 45.6 °north latitude.
Meanwhile, Russia also has its military concerns. According to Russian experts, the new launch site is far away from NATO allies and is thus not threatened by their threats.
Russia also wants South Korea to help solve its financial difficulties in the construction of the new launch site. And South Korea hopes to get Russia's space technology in return.
Will Russia's ambitious project enable Russia to maintain its share of the space launch market?