Documents on creation of Rosgeologia state corporation will be submitted in summer
MOSCOW. May 25 (Interfax) - The Natural Resources and Ecology Ministry expects to receive the required documents for formation of the Rosgeologia state corporation this summer.
"All of the agreements with the ministries and agencies have been received and the government is already drafting the document on creation of the company. That will happen this summer," Deputy Natural Resources and Ecology Minister Sergei Donskoi told journalists.
The new company might have a budget of 6 billion rubles a year, Donskoi said. "That is not very much of course. For future projects, five-ten times that will be needed," he said. The corporation being created it without parallel in Russia. "The company will be able to assume many of the technological risks, geological projects that private companies won't. This might also involve venture projects," Donskoi said. Rosgeologia might cooperate with foreign companies, "but the advantage will be that the technology will stay in Russia," he said.
