The Board of Directors of ROSNANO OJSC has approved of the general conditions of the transaction. However legally binding documents that specify all required details are still to be signed.
ROSNANO has been considering Russian Magnesium project for more than two years. The project is complicated but attractive for investors and extremely important for the national economy. The foundation of a new enterprise specified in the framework of the project, will lead to the satisfaction of national demand and reduce the level of dependence of Russian enterprises from the import of raw materials.
The total scope of the project taking into account the investments that have already been made makes up 16 bln roubles. This sum was partially invested by ROSNANO OJSC in form of a contribution to the authorized capital of Russian Magnesium  OJSC.
Metropol Group acted as a co-investor of the project through its filial structure – the NBC Corporation.