Contents tagged with Angstrem company
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Sanctions devastate major Russian hi-tech project
One of the largest hi-tech development projects in Russia, initiated by the government and the Security Council, has come to ruin due to sanctions.
The Angstrem-T microchip plant, which belongs to former Communications Minister Leonid Reiman and has received $1 billion in state financing, is close to bankruptcy.
The company, which received an €815 million credit line from Vnesheconombank (VEB) in 2008 to build a factory in Zelenograd, has not yet even begun repaying the loan. Reuters reports …