MOSCOW. March 20 (Interfax-AVN) - The United States is ready to assign up to USD25m to Russia to set up a U.S.-Russian joint venture in Snezhinsk, the Chelyabinsk region. This "closed city" is part of the Russian Atomic Energy Ministry's infrastructure.
According to a report from the U.S. Overseas Private Investment Corporation (OPIC), the U.S. Department of Energy is working on a project under which the OPIC will guarantee funds for the joint venture, which will manufacture medical equipment.
Russian nuclear scientists will produce medical equipment, including prosthetics and modern burn remedies for the venture, said Peter Watson, the president and director of the OPIC.
The OPIC plans to assign up to USD25m to the U.S.-based Numotech Inc. for the joint venture in Snezhinsk.
Numotech will hire personnel from the Spektr Konversia enterprise, which employs former staff members of the All-Russia Scientific- Technical Institute of Technical Physics. The scientists previously worked in weapons design and production.
America estimates Russia's annual tax revenues from the project at USD1.2m during the first five years. The venture will also create 433 permanent jobs and bring domestic sales of up to USD10.5m.
Numotech was established in 1990 to research, develop, produce and sell medical equipment.