Russia to create risk management tool for first industrial use of domestic technologies

Russia to create risk management tool for first industrial use of domestic technologies The Chamber of Commerce and Industry of Russia has formed a special working group to consider this initiativeMOSCOW, July 2. /TASS/. Russia will create a mechanism for managing technological risks during first industrial application of domestic technologies, the engineering company Toptech said in a statement. "Toptech, a technology licensor and market leader in chemical engineering, has joined the development of an initiative by the CCI of the Russian Federation and VTB Bank (PJSC) to create a mechanism for managing technological risks for the first industrial application of domestic technologies. On July 1, 2026, the CCI of the Russian Federation held an introductory meeting of the interdepartmental working group on this initiative. The gas chemicals industry has been singled out as the first industry to implement the mechanism," the statement says. The Chamber of Commerce and Industry of Russia (CCI) has formed a special working group to consider this initiative. It includes representatives from federal government agencies and development institutions, the Russian Union of Industrialists and Entrepreneurs, the Russian Union of Chemists, technology companies, equipment manufacturers, and customer enterprises. The participants agreed to develop specific proposals for the mechanism in collaboration with chemical industry companies and relevant agencies. Due to the lack of references, neither investors nor financial institutions are willing to accept the risk of first-time implementation of Russian technologies, which is hindering the launch of new projects, notes Toptech. The new initiative aims to remove this barrier and create conditions for the implementation of the first industrial projects using domestic technologies for the production of ammonia, urea, and methanol. The future risk management mechanism implies that the state assumes part of the technological risk of first-time implementation, opening such projects access to bank and project financing. "According to VTB Bank, the launch of this mechanism will enable the implementation of over 30 large-scale gas chemicals projects using Russian technology, with a total investment volume of up to 6 trillion rubles. This will enable the processing of up to 15 billion cubic meters of natural gas and create capacity for the production of 34 million tons of gas chemical products (ammonia, urea, methanol) per year. Up to 40-60% of the capital investment for such projects comes from orders for equipment and engineering placed with Russian engineering companies," Toptech says in a statement. Toptech itself is not proposing a "switch in supplier," but rather eliminating dependence on foreign technology through systemic measures: a mandatory share of domestic engineering in new projects with tax incentives for investors, the creation of consortiums of Russian companies combining technology, engineering, and production, and state support not for individual pieces of equipment, but for the entire project, from development to commissioning. According to Toptech CEO Alexey Polyakov, "a mechanism for the state to mitigate technological risks associated with the initial industrial applications of domestic technologies could become a key tool for supporting the industry." 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