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Vnesheconombank and JSC Monocrystal intend to organize interaction as part of Russia’s high-tech company’s exports of products

16 june 2016 года
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In the course of the 20th St. Petersburg International Economic Forum, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and JSC Monocrystal signed a Memorandum on Cooperation.

On behalf of Vnesheconombank the Memorandum was signed by Vnesheconombank First Deputy Chairman – Member of the Board Nikolay Tsekhomskyi, on behalf of JSC Monocrystal - by Director General Oleg Kachalov.

Under the Memorandum the parties intend to organize interaction as part of export supplies to foreign countries by a global leader – JSC Monocrystal – on the synthetic sapphire market.


For its part, Vnesheconombank is ready to explore the possibility of its participation in making export supplies by way of providing funding with the use of a credit scheme. In order to implement specific projects, VEB and Monocrystal company will have to conclude individual agreements.

Main products of the company:

  • epitaxially polished sapphire plates (they are used upon manufacturing high brightness light diodes, large and medium batch optics, mobile electronics, Swiss watches and etc);
  • composite pastes for metallization of solar elements (they are used in alternative energy industry).

Monocrystal Group of Companies (a subsidiary of JSC Concern Energomera) is one of the world’s leading manufacturers of synthetic sapphire for high-tech applications in electronics, optical devices and metallization of pastes for solar cells. The Group has two production sites in Russia (the city of Stavropol) and one production site in China. The sites are equipped with their own equipment for growing synthetic sapphire and the world’s most advanced equipment to process it. The company exports more than 98% of its products to more than 25 countries in the world.

State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ is one of the key instruments for implementing the state economic policy aimed at removing infrastructure restrictions that impede economic growth, enhancing efficient utilization of natural resources, developing high-tech industries, unleashing innovative and industrial potential of small- and medium-sized enterprises (SMEs) and ensuring support for exports of industrial goods and services, implementing projects in special economic zones and in environmental protection.


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E-mail: press@veb.ru


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