VEB and MaximaTelecom JSC have entered into a cooperation agreement during the St. Petersburg International Economic Forum. The document was signed by Chairman of Vnesheconombank Sergey Gorkov and Chairman of MaximaTelecom’s Board of Directors Sergey Aslanyan.
The agreement envisages strategic partnership in the delivery of projects at the Russian and international markets. Discussing is underway for the cooperation and possible raising of VEB Group financing totaling 3 billion rubles for the implementation of a MaximaTelecom JSC investment project.
VEB will also assist in obtaining guarantees during the provision of export loan facilities, finding optimum state support measures, obtaining an expert evaluation of business plans in order to engage the widest possible range of market participants, and searching for Russian and foreign investors for MaximaTelecom projects.
“Infrastructure development and high technologies are the key priorities of VEB as a development institution. MaximaTelecom successfully combines both these directions, having successfully completed a large-scale project involving the deployment of the world’s first high speed free Wi-Fi network on Moscow metro trains. The MaximaTelecom technology platform has significant export potential. We see great prospects for the company’s investment program. We are ready to render active support to its projects both in terms of financing and our expertise, as well as well-established partner contacts abroad,” Sergey Gorkov stated.
“We managed to create an effective monetization platform for free Wi-Fi networks that we used to commercialize the Moscow metro network, which is integrated into the Moscow Wi-Fi space. The infrastructure solutions, platform software components and business-model developed by the company are unique and we see them being in demand not only domestically, but also abroad. Strategic cooperation with VEB is the most important step for MaximaTelecom towards the implementation of its development program providing for the export of our solutions and strengthening the company’s position in the Russian market,” says Sergey Aslanyan.
The State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” is a national development bank and one of the largest financial institutions in Russia. Established in 1924, Vnesheconombank has been operating in compliance with the special Federal Law on the Bank for Development since 2007. Vnesheconombank’s supreme governing body is the Supervisory Board headed by the Chairman of the Russian Government Dmitry Medvedev. In compliance with the Strategy 2021, VEB will focus on financing high value added industrial projects; infrastructure development, non-resource exports, defense industry conversion to civilian products, innovations and National Technological Initiative projects.
MaximaTelecom JSC is an operator of the largest Wi-Fi space within the transport infrastructure. The company is developing a platform for the commercialization of its own and partner public Wi-Fi networks. More than 80% of Moscow residents use the free Wi-Fi network in the Moscow metro. In 2014 MaximaTelecom launched free Wi-Fi networks on all Moscow metro lines. And on May 30, 2017, the first segment of free MT_FREE network on Line 4 of Saint Petersburg Metro went online. Thus, the foundation for the creation of an integrated Wi-Fi-space of the two capitals has been laid. The innovative services provided by the company have won several prestigious Russian and international awards. In particular, MaximaTelecom has become the first Russian company to win the international Wi-Fi Industry Award for the best Wi-Fi network operation in a city area.
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