Nitol received from RUSNANO the second credit tranche, amounting to 1.5 billion rubles, for the Nitol polysilicon production project
Nitol has received the second tranche worth 1.5 billion rubles from the Russian Corporation of Nanotechnologies (RUSNANO) to finance construction of a polycrystalline silicon and monosilane production complex in the Irkutsk Region. The amount of credit funds, invested by RUSNANO in the project to date, totals 4.5 billion rubles.
The Corporation took a decision to participate in the Nitol Solar project in February, 2009. The total amount of RUSNANO’s investment in the project shall reach 7.5 billion rubles, with 3 billion rubles disbursed in the form of guarantees and 4.5 billion - via a long-term loan.
Polycrystalline silicon and monosilane are the main raw materials for components, required by the solar energy sector. The high technology production complex is to be built on the grounds of the NITOL enterprises, located in Usolie-Sibirskoe, in the Irkutsk region. The aggregate polysilicon output capacity will amount to 3800 tons per year. The monosilane output capacity will total 200 tons per year.
The new production complex will set up a raw-material base for further development of the Russian microelectronics and represent a major step towards development of a new industry in the Russian economy – the solar energy sector. The project will contribute to the implementation of tasks defined by the RF Government to increase the renewable energy share in the total electrical energy output and guarantee efficient use of the energy resources.
About Nitol Solar
Nitol Solar is an international group of companies, specializing in the production and sale of chemical products, which are key components for the solar energy industry. Production is based at a chemical plant complex, located in the Irkutsk region; the complex produces chlorine-based products, including trichlorosilane which is the main feedstock for polysilicon. Nitol Solar intends to become a leading global supplier of products for the rapidly growing solar energy industry. For more information on Nitol Solar please visit the website at www.nitolsolar.com and www.nitol.ru
