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Posted: March 19, 2008

Russia Companies Make Nanotechnology Products - Ivanov

(Nanowerk News) Five Russian companies that have received support of their investment projects are already producing nano products, Russian First Deputy Prime Minister Sergei Ivanov said in the Federation Council upper house of parliament on Wednesday.
“This is not any ‘nano marmalade’, as critics sometimes say. For example, Severstal has already begun series production of unique alloys with a twofold enhancement of performance characteristics. They are intended for the construction of structures used in extreme conditions, in particular in the development of Arctic offshore oil and gas fields. At present, the amount of sales is about 2 billion roubles a year, but it can be increased one hundred times,” Ivanov said.
The potential market of these products in the world is significant, about 3 billion dollars a year, Ivanov said,
“In connection with the expansion of the use of energy-saving technologies the market will grow by 2012 about twentifold. Needs of our country by that time are estimated at over 70 billion roubles.”
He told the parliamentarians “funds invested by private investors are insignificant so far”.
Most investment in nanotechnology comes from the budget, which slates 10 billion roubles this year and 12 billion roubles in 2009.
Source: ITAR-TASS
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