Russia's state-owned Rusnano Corporation and India's National Investment and Infrastructure Fund are setting up a joint $2 billion investment fund for hi-tech projects, according to Rusnano's website. The corresponding memorandum has been signed by Rusnano head Anatoly Chubais and India's Deputy Finance Minister.
"The key areas of work of the private equity fund will be the implementation of the hi-tech projects at growth stage, including dual-use technologies and defense industry products. Technology transfer will be carried out with regard to the interests of both countries in creating the production facilities and service infrastructure on their territories," according to the press release.
Previously, Anatoly Chubais, Chairman of the Rusnano Executive Board, had announced that the company would set up a number of investment funds collectively worth 40 billion rubles by the end of the year to support new nanotechnology projects. According to Mr. Chubais, the private investors involved include ones from China.
First published in Russian by Kommersant.
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