RUSNANO, the Sintez OKA Group of Companies and Kazakhstan’s sovereign wealth fund (SWF) Samruk-Kazyna JSC are planning to establish a joint platform for investing in innovative small and medium-sized projects in the chemical industry. Developing this sphere is one of the key aims of Russia’s industrial strategy.
During the St. Petersburg International Economic Forum, an agreement setting out the main terms and conditions of the partnership was signed by Alisher Kalanov, Head of the Investment Division of RUSNANO Management Company; Yernar Zhanadil, Managing Director for Investment, Privatization and International Cooperation at Samruk-Kazyna JSC, and Sergey Lugovskoy, Chief Executive Officer of Himtek Engineering JSC (owner of the Sintez OKA Group of Companies). The signing ceremony was attended by the heads of RUSNANO and Samruk-Kazyna JSC, and Gleb Nikitin, the Governor of Nizhny Novgorod Region.
The document sets forth the general terms of collaboration between Samruk-Kazyna JSC and RUSNANO-SINTEZ Fund on investment and technology transfer, and on the establishment of manufacturing facilities for Russia’s and Kazakhstan’s chemical processing industries, which may potentially play an important role in import substitution and the export market.
Overall, the investment amounts to RUB 14 bln, with RUSNANO-SINTEZ Fund and Samruk-Kazyna JSC contributing equal amounts.
“Developing the chemical industries is a priority for the economies of both of our nations. This agreement will create the base for the joint implementation of projects in Russia and Kazakhstan, and the transfer of knowhow and technology by the RUSNANO-SINTEZ Fund,” said Yernar Zhanadil, Managing Director for Investment, Privatization and International Cooperation at Samruk-Kazyna JSC.
Alisher Kalanov, Head of the Investment Division of RUSNANO Management Company, noted that the interest expressed by foreign partners in the transfer of Russian technologies reflected the great potential offered by the country’s research and development teams. “We welcome this partnership between our Fund and such an important organization as Samruk-Kazyna, the Republic of Kazakhstan’s sovereign wealth fund, and view the implementation of cross-border deals with partners that can help promote Russian technologies as one of the key aims of the RUSNANO Group in the CIS,” he added. “A collaboration spanning over 10 years between the Sintez OKA Group of Companies and Kazakhstan’s largest oil and gas businesses has laid a solid foundation for a fruitful and mutually beneficial collaboration with the RUSNANO-SINTEZ Fund. I am convinced that by working together we can make the chemical sector in both Russia and Kazakhstan more attractive to investors,” noted Sergey Lugovskoy, Chief Executive Officer of Himtek Engineering JSC (owner of the Sintez OKA Group of Companies).
As Gleb Nikitin, the Governor of Nizhny Novgorod Region, pointed out, the creation of a platform for joint investments in the chemical industry will promote the development of this sector in the region. “The chemical industry is an important sector in Nizhny Novgorod Region, and it is expanding. Companies are upgrading their production facilities, improving the quality of their output and extending their production lines. Naturally, none of this is possible without investment. I am confident that this platform will allow us to achieve real results and lead to the creation of new jobs,” said Gleb Nikitin.