Sitronics & CIS to launch chip production in Russia

The investment comes in cooperation with the Russian Corporation of Nanotechnologies (RUSNANO), Sistema and “NIIME and Mikron”, which is part of the SITRONICS Microelectronics business division. The total investment in the project is expected to amount to RUR 16.5 billion, of which RUSNANO will invest RUR 6.5 billion. SITRONICS will invest an equal amount in the form of the hi-tech equipment to be provided by “NIIME and Mikron”. In a long-term perspective, the project will also involve debt financing. The investments will be made in the form of contributions to the charter capital of the joint venture between RUSNANO and “NIIME and Mikron”. The new facilities will be built on the basis of the existing “NIIME and Mikron” facilities in Zelenograd and will include research and design centers and microelectronic production capacity. STMicroelectronics is the technology partner for the project. The range of products to be produced at the facility will target a number of developing industrial sectors including Digital TV, GLONASS/ GPS navigation systems, industrial automation systems, automative electronics and high security smart cards.