The Supervisory Council has approved RUSNANO participation in setting up the production of abrasive resistant parts using nano-structured ceramic and metal-ceramic materials. The project was initiated by Virial LLC, one of the Russian market leaders in abrasive resistant ceramic and metal ceramic parts and units for oil production, refinery and chemical industries. Siberian Organics CJSC will co-invest in the project.
The total amount of project investment is estimated at 1.6 billion rubles. RUSNANO will contribute 501.5 million rubles to Virial’s equity share. In addition, RUSNANO will provide the company a loan of 150 million rubles, and a guarantee for loans and credits up to 220 million rubles. The co-investor's contribution to Virial’s equity share will be 200 million rubles. To raise funds for the project, the company is borrowing from commercial banks as well.
The project will create a complete production cycle for the manufacturing of a variety of tribotechnical items (units exposed to friction and wear) made from nano-structured ceramic and metal-ceramic materials and meant for functioning under severe operating conditions, including pumping equipment. As compared to metals and polymers, these materials have a variety of important advantages, such as higher wear-resistance, a wider range of operational temperatures, and chemical stability. In this case, nano-structured materials increase the life cycle and reliability of industrial pumping equipment by 20-30%.
In addition, the company will release a line of ceramic and metal-ceramic cutting tools for processing metal and composite materials with a high level of hardness, strength, and heat resistance. Use of these tools on such materials will result in better performance of the processing equipment, accuracy and continuity of geometrical parameters in the processing of parts.
The pilot production of nano-structured parts will start in 2009. According to the project timeline, production is expected to reach its planned capacity by the end 2012 and exceed 3.7 billion rubles in output by 2015.
Virial LLC manufactures abrasive resistant parts and units based on ceramic and metal-ceramic materials and covers approximately 30% of the Russian market of parts and units for submersible oil pumps, competing in this segment mostly with foreign manufacturers. The Company performs in-house research and development, as well as cooperates closely with leading Russian and overseas R&D companies.