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Sverdlovsk region increases nanotechnology budget by 500%

Posted by Elena Toporikova on Monday, 15 November 2010 09:18 | Published in Regions

Sverdlovsk region intends to invest 840 million RUR in nanotechnology development between 2011-2013. This represents a significant increase in expenditure, with 179 million RUR spent in the last 3 years. 

The Russian nanotechnology market is under-developed with less than 1% of global market share. Financial support from the government is expected to boost Russian expertise in the sector and help the nation gain additional market share.

The Russian Corporation of Nanotechnologies (RUSNANO) provides funding for the most promising regional projects. Currently over 30 projects in Sverdlovsk region have been funded by Rusnano, one of which has had more than 800 million rubles in funding.

Another project Rusnano is interested in is Russkyi Magniy (Russian Magnesium). The details of Rusnano’s participation in the project are under development. Russkiy Magniy Plant which will be located in Sverdlovsk region is expected to produce 23,000 tons of Magnesium and 30,000 tons of silicon each year.

 

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