President Vladimir Putin unveiled a new $US50 billion ($A47 billion) drive for Russia to preserve its status as a top space power, including the construction of a brand new cosmodrome from where humans will fly to space by the end of the decade.

Fifty-two years to the day since Yuri Gagarin became the Soviet Union's greatest hero by making the first human flight into space, Putin inspected the new Vostochny (Eastern) cosmodrome Russia is building in the Amur region of the Far East.

Putin said in a live link-up with the multinational crew of the International Space Station (ISS) that Russia hoped to have the first launches from Vostochny in 2015 and the first manned launches in 2018.

"It's going to be a great launch pad. It took a long time to choose but now work is fully underway," said Putin in comments broadcast on state television, adding that Vostochny would be fully operational by 2020.