Vladivostok, 4 September 2019 — Rostelecom PJSC, Russia’s largest provider of digital services and solutions, and the Far East High Technology Fund that finances and supports hi-tech projects in the Russian Far East have entered into a cooperation agreement aimed at developing offers to create and implement the Smart City pilot project, identify its phases, and analyse the required amounts and sources of financing.
The parties are planning to cooperate in identifying the Far East’s development priorities and designing approaches to transform the communications infrastructure in the regions of the Far East and create a competence development environment.
Besides, the companies have agreed to implement joint projects intended to develop professional communities involved in the technology environment of the Far Eastern macro-region.
The agreement of intent was made during the Eastern Economic Forum held on 4 — 6 September 2019 in Vladivostok.
Rostelecom PJSC is Russia’s largest provider of digital services and solutions operating in all market segments and covering millions of households, public and private entities.
Rostelecom is the leader in the market of high-speed Internet and subscription television services. The company has 13.0 mln subscribers for broadband access services and 10.2 mln subscribers for subscription television, including over 5.4 mln with an active subscription for interactive TV.
The Group’s revenue amounted to RUB 158.8 bln, OIBDA — to RUB 53.5 bln (33.7% of revenue), and net profit — to RUB 10.0 bln in 1H 2019.
Rostelecom is the leader in the market of telecommunications services for the Russian government authorities and corporate users at all levels.
The company is an established technology leader in e-government, cybersecurity, data centres and cloud computing, healthcare, education, and housing and utilities services.
The company’s strong financial position is attested to by its credit ratings: BBB- from Fitch Ratings, BB+ from Standard & Poor’s, and AA(RU) from ACRA.