Ural authorities back nanotech; $2bn projects in tender

The Sverdlovsk region in the mid-Urals is holding a tender for the reimbursement of interest rates on loans for nanotech innovation companies in the area.

The Sverdlovsk region in the mid-Urals is holding a tender for the reimbursement of interest rates on loans for nanotech innovation companies in the area, Delovoi Kvartal ? Yekaterinburg reports, citing regional authorities. The local government reportedly plans to continue with the tender until the end of this month. It is part of its broader innovation and nanotechnology support program, calling for the reimbursement of no more than two-thirds of the Central Bank of Russia?s refinancing rate. According to the source, 47 regional companies are tendering for the benefits for their 60 investment projects worth a reported total of just under $2bn. The companies are expected to invest their own money, covering 21% of the total amount, and also borrow the remaining 79%. As a result of their effort, an estimated $3.3bn worth of end nanotech products is expected, with 4,100 new highly skilled local jobs created. The companies have already gotten a total of $645m in loans to further their projects and can now expect, under the terms of the government tender, to get back as much as $26m...