Rosnano to buy stake at Russky Magniy

25 April 2011 (18:24)

UrBC, Yekaterinburg, April 22, 2011. Rosnano is going to obtain a controlling shareholding in Russky Magniy, a plant the construction of which will being in Asbest, Sverdlovsk Region, at the end of 2011, the regional Industry & Science Minister Alexander Petrov told RIA Novosti.

The design team is currently working on the project and design documentation; the plant is expected to use a unique mineral production technology that will cost about 865m RUR to implement.

‘Rosnano, which will own the controlling shareholding in the business, will act as the project’s main investor. An agreement that gives Rosnano a share in the authorized capital due to a 6bn RUR investment was signed today,’ Alexander Petrov announced at a press conference.

The minister added that the share of Switzerland-based Minmet Financing Company was reduced from 50% down to 25% plus one share; the stakes of Sverdlovsk Region and Uralasbest in the business dropped from 25% to 4.76% each.

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