OREANDA-NEWS. June 20, 2011. RUSNANO, Corporation Ural Industrial — Ural Polar, and Khanty-Mansiysk Autonomous Okrug have signed a shareholders’ agreement for the Polar Quartz project. Signing took place as part of first day of the St. Petersburg World Economic Forum.

RUSNANO CEO Anatoly Chubais, Khanty-Mansiysk Governor Natalya Komarova, Corporation Ural Industrial — Ural Polar General Director Alexander Beletskiy, and Khanty-Mansiysk Bank Deputy Chairman of the Management Board Alexander Smirnov, signed the agreement on behalf of their organizations.

The shareholders’ agreement regulates the rights and relationships between shareholders of Polar Quartz for realization of a production project. The document was prescribed in the investment agreement that RUSNANO, Corporation Ural Industrial — Ural Polar, Khanty-Mansiysk Autonomous Okrug, and Polar Quartz signed on April 22, 2011.

The Polar Quartz project will establish a vertically integrated production complex for quartz micro- and nanopowder and ultrapure quartz concentrate. These products are in high demand from several sectors, including the nanoelectronics, optoelectronics, lighting, and chemical industries.

RUSNANO is investing 1.29 billion rubles in the Polar Quartz project. In 2016 the project is expected to produce 10,200 tons of highly processed quartz products. Polar Quartz’s sales in 2015 are forecast at 2.0 billion rubles.