1.5 Billion Roubles To Be Invested In Polar Quartz Project

20.01.2010 — News

UGRA.

OJSC "The Industrial Urals - the Polar Urals Corporation" has joined the pool of investors into the Polar Quartz project. Money from the corporation's stock issue will be channelled into funding of the project. The decision on the additional issue of stock of OJSC "The Industrial Urals - the Polar Urals Corporation" to the value of 450 million roubles has been made in December 2009.

It is planned that within the Polar Quartz project quartz micro- and nano-powders and high purity quartz concentrates will be produced in Ugra. Quartz nano-powders with particle size under 100 nanometres are widely used in microelectronics, construction, and operation of oil and gas wells.

Ugra government informed RusBusinessNews that the total volume of investments from the regional budget into the Polar Quartz project amounted since 2003 to 1.5 billion roubles. Production is planned to reach 7.5 thousand tons of metal in 2013. According to the business plan in 2016 after the second train of the Polar Quartz is commissioned 10 thousand tons of quartz products of high levels of processing worth about 2 billion roubles will be produced per annum. Up to 90% of the produced amounts is planned to be shipped to foreign consumers.

The State Corporation ROSNANO is also planning to invest 1.29 billion roubles in the project in the first quarter of 2010. The completion of the construction of the first train of the complex in Nyagan is assessed at 3.96 billion roubles.