The government has sanctioned appropriation of 27 billion ruble to Sitronics Consortium to construct the up-to-date microchip producers in Russia.
Photo: Dmitry Azarov
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Govt to Fund Microchip Production
The government has sanctioned appropriation of 27 billion ruble to Sitronics Consortium to construct an up-to-date microchip producer in Russia. In return, the state will get roughly 46 percent in Sitronics-Nanoteknologii that will implement the project.
Sitronics presented the project to build a plant in Moscow Zelinograd far back in September of 2007, during the investment forum in Sochi. The enterprise will produce microchips of 0.045 microns to 0.065 microns for digital TV and GPS receivers and for GLONASS devices. In Russia, there are no facilities able to work with components of such precision, and all used chips are imported today.
Prime Minister Vladimir Putin inked past Friday a ruling to add the project to the list funded from Russia’s Investment Fund, Interfax reported with reference to a source with the cabinet. The government will appropriate 27 billion ruble, emerging as a co-investor of Sitronics-Nanotekhnologii. The shares will be split as follows: the government will have roughly 46 percent, AFK Sistema will get 43 percent and Sitronics will confine to 11 percent.
The project budget equals 58.5 billion ruble, and the RF Industry and Trade Ministry will monitor it on behalf of the government. But the construction deadline is unclear. Sitronics still lacks the company to provide production technology, intending to announce the tender to pick a technological partner once the money is given. The choice is narrow, only three companies - ST Microelectronics (has a joint project with Sitronics for production of 180 nanometers), IBM, Samsung, TSMC, Intel, AMD, Texas Instruments – possess the respective technology today.
The business of Sitronics consortium has been split into three directions, including telecom solutions, IT and microelectronic solutions, consumer services and goods. The capitalization was $0.989 billion as of late Friday. The principal holder is AFK Sistema that owns 64.4 percent. Former president of AFK Alexander Goncharuk has 3.14 percent and EBRD owns 3.07 percent.
www.kommersant.com
All the Article in Russian as of Aug. 25, 2008
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