The project related to establishing a facility for manufacturing small size, intricate metal parts at Spektr-Konversia, Snezhinsk. These parts (comprising tubes, brackets, housings and plugs) are used in a variety of applications from mine rescue equipment through to medical devices. Spektr-Konversia has established relationships with buyers both in Russia and in the USA. Support to Spektr-Konversia could aid the further development of a company that is focused entirely upon high technology job creation for former VNIITF staff and build upon the sound foundations laid by the NCI programme in Snezhinsk.

Overall, the project has gone well, apart from the fact that the quota of jobs promised in the contract will not be achieved. The company was set up with US support, is run in a professional way and has managed to recover from a collapse of orders that occurred in the crisis in a business-like manner. In fact the actual number of jobs created is respectable, and (apart from the consequences of the financial crisis which continues to limit customers' access to credit) the main problem is that the company appears to have started off by exaggerating the number of jobs which would be created in the belief that this would increase its chance of getting a grant. When we questioned the number of jobs they insisted that their figure was realistic, and they were strongly supported by Rosatom, but in retrospect is seems unlikely that even without the crisis they would not have achieved what they promised. Ironically, had they originally proposed a lower job creation target the project would have ended up as a clear success.

The Beneficiary could not fulfil all of its obligations in terms of new job creation (the planned figures were 40 new jobs, 35 for former RFNC-VNIITF staff, whereas the actual number of new jobs created was 32/13). The economic situation and beneficiary's opportunities to increase sales efforts make it unlikely that these figures could be improved upon. It was, therefore, decided to close the project, while withholding the final payment of £10,000.