'Sitronics, Rusnano partner on 90nm chip production'

Tue. October 13, 2009; Posted: 06:10 AM

Oct 13, 2009 (DMEUROPE via COMTEX) -- JSCSL | Quote | Chart | News | PowerRating -- Russian provider of telecommunications, information technology and microelectronic services Sitronics has signed an investment agreement with the Russian Corporation of Nanotechnologies (Rusnano), Sistema and Niime and Mikron, part of the Sitronics Microelectronics business division. Under the terms of the deal, Sitronics will launch full-scale 90 nanometre microchip production in cooperation with its three partners. Overall investments in the project are estimated to reach RUB 16.5 billion. Of these, Rusnano will contribute RUB 6.5 billion, while Sitronics will invest an equal amount in the form of hi-tech equipment to be provided by Niime and Mikron. In the long-term, the project is also expected to include debt financing. The new facilities will be built on the basis of the existing Niime and Mikron facilities in Zelenograd, and will cover research and design centres and microelectronic production capacity. Sitronics has selected semiconductor manufacturer STMicroelectronics as its technology partner for the project. The products to be developed at the facility are expected to target various developing industrial sectors, including digital TV, Glonass/GPS navigation systems, industrial automation systems, automotive electronics and high security smart cards.

Distributed for DMeurope.com via M2 Communications (www.m2.com)

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