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10 Feb, 2010 05:44

Russian innovation companies would go for IPO in Russia - Chubais

Speaking on the sidelines of the Davos summit in Swtizerland, head of the Russian Nanotechnolgy Corporation, Anatoly Chubais, gave some insight into the future to RT.

“We have over 60 government-approved nanotech projects with total capex [capital expenditure] of 190 billion roubles (US$6.3 billion), 50% of them belong to [governmental agency] Rosnano and 50% to private investors. We target 900 billion roubles in revenue by 2015 from the newly created businesses in the Russian technological sector – that is US$30 billion. Judging by what we achieved last year, this target is realistic,” says the billionaire businessman.

Anatoly Chubais believes that in technology there are certain areas where results are being achieved stage by stage, like in producing semi-conductor chips. The technological cycle simply cannot go any other way but step by step. But in completely new sectors, this condition is not indispensable.

“Let me take the example of photovoltaics. That is, solar batteries. We are developing the five most-advanced pieces of technology in photovoltaics… and each of those pieces will be absolutely cutting edge and in this sector we are able to build super-modern plants which would be able to compete on the world scene,” Chubais outlined. “And each of these plants that we build now for photovoltaics – the share of export is going to be between 30% and 90% – so we are going to the world market, not only to the Russian market.”

Chubais also shared news about an upcoming pharmaceutical project based on nanotechnological procedure that would deal with delivering medicine directly to the affected cells. He said that this would be a classic example of innovative pharmaceuticals and it has been developed from scratch.

Anatoly Chubais told RT that Russia is designing a special exchange for innovative companies using the already-existing Moscow Micex Exchange, so that Russian companies can conduct their IPOs in Russia.

“This is very pragmatic,” he said. “If we are speaking about an innovative company, for them to fly [for IPO] to Hong Kong is not the same as for Mr Deripaska (a Russian billionaire) and we should help them to avoid great expenses, big costs and to do it in a cheap and proper way – that is why it should be Moscow.”