OREANDA-NEWS. The Board of Directors of RUSNANO MC LLC approved the modified version of the 2015 financial plan and resolved to hold a regular (annual) shareholders’ meeting on April 30, 2015.

The estimated revenues of the company in accordance with the agreement on transferring authorities of the sole executive body of RUSNANO OJSC to RUSNANO MC LLC will amount to RUB 3.8 bln. The estimated expenses  will amount to RUB 3.8 bln.

Compared to the 2015 plan approved previously it was planned to reduce payroll expenses by 3 percent, expenses for IT research and service expenses by 10 percent, cost of advisory and other professional services by 8 percent for the purpose of the cost mitigation.

It is also planned to increase project management costs and costs for the establishment of new foundations for the purpose to search for and engage new APR and other investors so that to reorient on them ROSNANO activities in the current geopolitical situation.

The Board of Directors also resolved to approve the transaction between RUSNANO MC LLC and the Fund for Infrastructure and Educational Programs. The subject of the transaction is rendering promotion services in the course of congresses and exhibitions in 2015.

RUSNANO was founded as an open joint stock company in March 2011, through reorganization of state corporation Russian Corporation of Nanotechnologies. RUSNANO is instrumental in realizing government policies for nanoindustry growth, investing in financially effective high-technology projects that guarantee the development of new manufacturing within the Russian Federation. The company invests in nanotechnology companies directly and through investment funds. Its primary investment focus is in electronics, optoelectronics and telecommunications, healthcare and biotechnology, metallurgy and metalwork, energy, mechanical engineering and instrument making, construction and industrial materials, and chemicals and petrochemicals. The Government of the Russian Federation owns 100 percent of the shares in RUSNANO.

Work to establish nanotechnology infrastructure and carry out educational programs is fulfilled by RUSNANO’s Fund for Infrastructure and Educational Programs, which was also established during the reorganization of the Russian Corporation of Nanotechnologies.

Management of the investment assets of RUSNANO are carried out by a limited liability company established in December 2013, RUSNANO Asset Management. Anatoly Chubais is chairman of its Executive Board.