A Russian firm and a state-controlled spacecraft manufacturer intend to build and operate the world’s first commercial space station.

Orbital Technologies chief executive Sergey Kostenko told the Associated Press that the station would serve space tourists and researchers.

The station, due to be launched by 2016, will initially be capable of hosting seven people and be designed for potential expansion.

The Russian state space agency will lease launch pads for service modules of the station and use it as a safety back-up for the International Space Station in emergencies.