MOSCOW, September 24 (RIA Novosti) - Rosnanotech will co-fund a project to create nano-ink and equipment for hi-tech digital printing, investing $5.5 million out of a total of $33.4 million, the Russian state corporation said Thursday.

"Rosnano will allocate 166 million rubles during the next year. Currently we are at the stage of finalizing talks and discussing the structure. Everything is expected to be finalized by the end of the year," Rosnanotech managing director Dmitry Lisenko told BFM.ru.

The new technology will allow images to be placed on printed products not only advertising merchandise and material, but also on furniture, tile, glass, electronics, ceilings etc., at a lower price but while retaining high quality.

"Implementation of the project will make it possible to increase the competitiveness of an entire range of companies in Russian industrial sectors - buyers of production projects, as consumer quality of end products - in printing, construction materials, furniture and household appliances - improves," Rosnanotech said on its website.