Nokia and YADRO form joint venture to develop telecommunications network in Russia

25. 11. 2021 Thursday / By: Robert Denes / Industrial / Exact time: BST / Print this page

M oscow - Nokia and Russian YADRO plan to build joint venture to build 4G and 5G telecommunication base stations in Russia. The two manufacturers of communications equipment said the deadline for building the network, with Russian equipment only, had expired on Wednesday, November 24th.

Russia has announced that it will extend the license of telecom operators for LTE networks after 2023 (long-term development), provided that only Russian equipment is used on the networks, as part of Moscow’s wider promotion of domestic technology and IT services.

“We are pleased to partner with YADRO, a leading Russian developer and manufacturer of high-performance servers and storage systems, to address the new localization regulatory framework,” Nokia of Finland told Reuters.

Nokia said in a statement that the two companies signed a worksheet on November 23 stating they wanted to start bona fide talks to set up a joint venture (joint venture) in Russia.

The two companies did not disclose either conditions or planned investments. The daily Kommersant previously reported, citing a source, that YADRO will have a 51% stake in JV and Nokia the remaining 49%.

Russia's Minister of Industry and Trade Denis Manturov said the agreement between the companies will develop telecommunications equipment in Russia, with construction scheduled to begin in December.

According to Manturov, Russian manufacturers currently give 21% of the country's 168 billion rubles ($ 32 billion) contract to purchase telecommunications equipment.

"The total market is estimated at more than 400 billion rubles (Rp 76 trillion), so we see quite serious potential in the development of joint Russian and local projects," he added.

The 2 companies signed a contract on November 23, Nokia said in a statement expressing its intention to enter into excellent credit agreements to set up a joint venture in Russia.

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