The Australian government has invested AUS$50 million to build the country’s space programme, ABC News reports.
The establishment of the Australian space agency will reportedly be announced on 8 May.
Creating its own space agency will place Australia in a league with many other developed nations which have space programmes, including New Zealand.
The Australian government has not decided where the headquarters of the space agency will be, but it expects the private sector to contribute most of the funding toward the development of the programme.
The report stated that former CSIRO boss Megan Clark will head up the agency for its first year of operation.