(Yicai) Feb. 27 -- Interstellar Glory Space Technology, a private Chinese rocket manufacturer also known as iSpace, plans to invest CNY3.3 billion (USD452.8 million) to build a factory to produce reusable rockets comparable to SpaceX's Falcon 9.

Interstellar will establish four production lines for final assembly and two for testing in Chengdu to make the SQX-3, the firm's self-developed reusable launch vehicle, Sichuan province-based media outlet Chengdu Economic Daily reported today. The plant will aim for an annual capacity of 20 rockets.

Founded in 2016, Interstellar is a pioneer in the emerging commercial rocket industry. In 2019, it completed the maiden flight of its first carrier rocket, the SQX-1, becoming China's first private company to launch a rocket into orbit. In 2023, the firm conducted vertical take-off and landing tests with its SQX-2Y to verify key technologies.

The newest technology, the SQX-3, is a liquid oxygen methane-propelled rocket that can land vertically on land and offshore. It is comparable to SpaceX's Falcon 9, a partially reusable rocket that has been used to resupply the International Space Station.

The SQX-3 is expected to make its first round trip to orbit and back this year, a representative of the Beijing-based company told Chengdu Economic Daily. By reusing the main part of the spacecraft, the cost of each launch can be significantly reduced, the source noted.

The carrier rocket is designed to cater to industries involving satellite constellation networks, space station construction, deep space exploration, and space tourism. The firm expects to increase the frequency of launches gradually from 2027 to achieve more than 20 missions per year by 2030, according to the report.

In addition to the Chengdu factory, Interstellar is currently building a solid launch vehicle assembly base in Sichuan's Shifang and a liquid-propellant engine test base in Mianyang to form a complete industrial chain in the province for a quicker feedback cycle between each mission.

Editor: Emmi Laine