The company announced the news Wednesday at the Third China (International) Commercial Aerospace Forum in Wuhan, capital of central China's Hubei Province.
The Kuaizhou-11 rocket will be launched via a mobile launch vehicle. With a lift-off mass of 78 tonnes, the rocket was designed to launch low-Earth and Sun- synchronous orbit satellites.
Kuaizhou, which is Chinese for fast ship, is a low-cost solid-fuelled carrier rocket with high reliability and a short preparation period.
Globally, the launch cost of small commercial carrier rockets usually ranges from 25,000 to 40,000 U.S. dollars per kilogram of payload, according to a CASIC spokesperson.
The spokesperson said Kuaizhou rockets are price competitive. The launch cost of the Kuaizhou-1A was less than 20,000 U.S. dollars per kg of payload, while Kuaizhou-11 rocket is less than 10,000 U.S. dollars.
In January, the Kuaizhou-1A rocket sent three satellites into space in its first commercial mission.
Source: Xinhua News
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