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24 Feb, 2010 07:25

A look into Russia’s Nanotech future with Anatoly Chubais

The Russian state-controlled technology company, Rosnano, is slated to have it's ownership structure changed later this year when it's likely to be turned into a joint stock company.

Business RT spoke to Anatoly Chubais in London where he was attending an investment conference, and began by asking what difference the change in ownership structure would make.

AC: "It may be really great change in terms of the shape of the company, but it is not great change in the strategy of the company. We are expecting this decision which is not officially made yet. Probably it will be made in March and when it will be made, we – the management of the company – are absolutely ready and we'll definitely support it. For developed preliminary plans, how it could be done, but again first we need decision and that should be a presidential decision. If he makes this decision, we may offer a strategy which will make it possible to transform the company in about 1 year. On the initial stage it will be 100% state owned shareholdeders company."

RT: Are you expecting to raise money by turning it into a joint stock company?

AC: "We expect to raise money on the debt markets. This year we plan to go to the debt market supported by the sovereign guarantee of the Russian government, which is very important. It makes us possible to issue bonds and that the first financial instrument for raising money we will use. This year the diapason of the money we are going to raise maybe between 25 and 40 billion roubles."

RT: How do you feel about the UK as an investment destination now?

AC: "We would very much like to develop our relation with Great Britain but money is not what we are looking for. Actually we are funded by the government for more than $10 billion. And the major thing we are looking here for in Great Britain is deal flow, projects."

RT: It’s a time of huge change for Rosnano as a whole isn’t it. Its going to change into a joint stock company. When do you expect that to happen? And in terms of looking a little bit further into the future, do you see Rosnano remaining as one company, or splitting up into various different divisions?

AC: "You know it is maybe a little bit early to discuss the organizational splitting, but in any strategy for development we have to understand that there are two types of functions of the company. First one – that’s creating the Nano industry in Russia, and we have a clear target, 2015 we have to have a 900 billion rouble revenues from the newly created Nano industry in Russia. That is the commercial part of the story. But the second part of the story – we have to do non-commercial functions like education, like infrastructure, for the Nano industry."