German company intends to create fund for investments into “clean technologies” in Tatarstan

German company Wermuth Asset Management intends to attract investments in Tatarstan for development of technologies in the sphere of energy-resource saving and environmental protection. Prospects of creating special investment fund were discussed at a meeting between company’s leadership and President of Tatarstan Rustam Minnikhanov. The meeting took place in House of RT government with participation of Minister of economy Midkhat Shagiakhmetov, RT Minister of finances Radik Gaizatullin, Chairman of JSC “Ak Bars” Directors board Robert Musin, Director-general of “Svyazinvestneftehim” Valeri Sorokin.

Opening the meeting Rustam Minnikhanov informed that Tatarstan authorities are intended to attract foreign investments in republic.

Founder and one of the heads of Wermuth Asset Management Jochen Wermuth said that the company consults large foreign investors offering variants of “alternative” investments into economy of countries of Eastern Europe and Russia.

By words of Jochen Wermuth, in Tatarstan the company is to adopt the so-called “clean technologies”. Head of Wermuth Asset Management believes that republic is one of the most developed regions in Russia in the sphere of technologies and there are conditions for attracting foreign investments. That is why Tatarstan was chosen for creating special fund of special-purpose capital. By words of J. Wermuth volume of fund can make 300 mln. dollars. Wermuth Asset Management is interested in investment into projects using advanced foreign technologies in the sphere of energy-resource saving and environmental protection. Such technologies may be used in mechanical engineering, petrochemistry and energy sector.

Rustam Minnikhanov supported the idea of creating such a fund.

Jochen Wermuth assured Rustam Minnikhanov that Wermuth Asset Management would be searching for potential projects and investors and present results of their work to republican authorities in the nearest time.