RUSNANO Supervisory Council approves Corporation’s participation in the NITOL’s polycrystalline silicon project
The Supervisory Council of the Russian Corporation of Nanotechnologies has approved the Corporation’s participation in the Nitol project aiming to construct Russia's first large-scale complex producing polycrystalline silicon and monosilane.
The high technology production complex is to be created under the auspices of NITOL enterprises: Usoliye-Sibirskiy Silicon and Usoliekhimprom, located in Usolie-Sibirskoe, Irkutsk region. The first stage of production has already been launched in December 2008 with 300 tons of output per year in test mode. The core operations with output of 3500 tons per year are set to be running by the end of 2009. The monosilane production with a total yearly output of 200 tons to be reached will be started stage by stage.
The total amount of RUSNANO’s investment in the project is set at 7.5 billion rubles: 3 billion rubles will be offered in the form of guarantees and 4.5 billion via a long-term loan. The loan will be made available in the first and second quarters of 2009. The loan and resources obtained under guarantee will be directed to completing the facilities for the production of polysilicon. Alfa Bank is to be a partner in the project, granting credit to finance the companies’ current needs, and attracting the financial resources under the RUSNANO guarantee.
The new production complex will set up a raw-material base for further development of Russian microelectronics, and it will also become an essential step on the way to forming a new sector of Russian industry - solar energy generation. The project will contribute to the implementation of tasks stated by the government of Russian Federation to increase the amount of renewable resources in producing electricity and guarantee the thrifty use of energy resources.
About Nitol Solar
Nitol Solar is an international Group manufacturing key chemical components for the global Solar Energy industry from an established chemical chlorine and silicon gas facility in the Irtutsk Region, Russia. Nitol Solar’s current and envisaged product groups encompass a number of steps in the photovoltaic value chain from trichlorosilane gas through polycrystalline wafers utilized in solar cells. Nitol Solar’s aim is to become a global leader in the efficient supply of products for the fast growing solar energy industry. For more detailed information please visit Nitol Solar’s website at www.nitolsolar.com
About ROSNANO
The Russian Corporation of Nanotechnologies (RUSNANO) was founded under Federal Law No.139-FZ dated July 19, 2007 for «implementation of the government policy in the sphere of nanotechnologies, innovation infrastructure development in the sphere of nanotechnologies, implementation of projects on creating perspective nanotechnologies and nanoindustry». The Corporation resolves this objective acting as a co-investor in nanotechnological projects with a significant economic or social impact. The Corporation’s financial involvement at early stages of projects reduces risks of its partners – private investors. The Corporation participates in establishment of the nanotechnological infrastructure, such as centers for collective use, business-incubators and early-stage investment funds. RUSNANO chooses the first-priority directions in investment based on long-term development forecasts (foresights) developed by the leading Russian and world experts. In 2007 the Government of the Russian Federation allocated 130 billion rubles for the Corporation’s activity. The management bodies are the Supervisory Council, Board of Directors and CEO. RUSNANO CEO is Anatoly Chubais. More information is available at www.rusnano.com.
About Alfa Bank
Alfa Bank was founded in 1990. Alfa Bank is a universal bank that conducts all main banking operations represented on the financial services market, including the care of private and corporate clients, investment bank business, commercial financing and asset management.
Alfa Bank is one of the largest banks in Russia in terms of asset management and its own capital. According to data held by the IFRS, for the first half of 2008, the total assets of the Alfa Bank Group, including Alpha Bank, subsidiaries and financial companies, was $28.9 billion, joint capital was $2.4 billion, and its credit portfolio excluding reserves was worth $20.2 billion. The net profit for the first half of 2008 was $265.3 million (as of June 30, 2007 - $115.6 million).
As of September 30, 2008, the Alfa Bank serves about 51 000 corporate clients and 2.9 mln. individuals. Moscow, other regions of Russia and foreign countries have seen 338 departments and bank branches open, including subsidiary banks in Kazakhstan and the Netherlands and a financial subsidiary in the USA.
