Tuesday, January 26, 2010

Nanotechnology Hits the Rails: RUSNANO and Russian Railways to Tailor Nano Products for Railroads

RUSNANO CEO Anatoly Chubais and Russian Railways President Vladimir Yakunin have signed an agreement for strategic partnership in the implementation and commercialization of nanotechnology for rail transport.

The agreement sets forth a mechanism for introducing and promoting innovation, including nanotechnology products, tailored to the railway sector. In carrying out the agreement, the parties will satisfy growing demand for high-quality transportation services, increase shipment volume and train weight, and improve speed of service.

In accordance with the agreement, Russian Railways and RUSNANO will determine the areas in which application of nanotechnology is most promising and the regions and subdivisions for implementing comprehensive projects.

The parties to the agreement established a working group with 6 subgroups in August 2009 to coordinate the partnership and the activities it undertakes.

The companies plan to create a system to monitor the effectiveness of the nanotechnology they introduce in order to develop a database for making management decisions. The parties will also work together to develop regulations improving Russia’s legislation in the area of innovation.

Russian Railways is one of the biggest railway companies in the world with 85,500 km of track and 1 million employees. Almost 1.1 billion passengers travel via Russian Railways annually as well as 1.1 billion tons of freight. Russian Railways accounts for over 3.6 % of Russia's GDP and handles almost 80% of all transportation in Russia. The Company's Mission is to meet the market demand for transport, increase the efficiency of the Company's activity and the quality of its services and achieve deep integration into the Eurasian transport system. The Russian Federation is the sole shareholder of Russian Railways.  Official site of the company: www.rzd.ru

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