Cisco plans to invest USD 1 bln in Russia

SAN JOSE, California, June 24 (Itar-Tass) -- Cisco plans to invest 100
million U.S. dollars in venture projects and bring its overall investments
in Russia in the next several years to one billion U.S. dollars.
Cisco President and CEO John Chambers said during Russian President
Dmitry Medvedev's visit to the company's office on Wednesday that Cisco
would invest 100 million U.S. dollars in venture projects and one billion
U.S. dollars in projects aimed at developing innovations and creating
conditions for entrepreneurial activities in Russia.
Cisco and Russia's high-tech centre Skolkovo Endowment Fund also
signed an agreement on cooperation. The document formalises the parties'
intention to work together in drafting several programmes and initiatives
to be implemented as part of the Skolkovo project.
The American company is expected to help Skolkovo, located outside
Moscow, become he first town in Russia that has employed its newest
concept called "Smart+Connected Utilities".
Earlier Chambers had agreed to become a member of the Skolkovo
Council, the highest governing body of the fund that is creating the
Russian high-tech centre.
Cisco will work out a model of future sustainable social, economic and
environmental development in Russia. When all the necessary infrastructure
is created in Skolkovo, Cisco will send key members of its project team
there.
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