MOSCOW, Aug 3 (PRIME) — Sweden-headquartered telecommunications equipment supplier Ericsson plans to create a research center focusing on telecommunications, transport, and power engineering in Russias research and development center in the Moscow Region town of Skolkovo, Ericsson said Wednesday, RIA Novosti reported.
Ericsson has signed an agreement with the Skolkovo Fund, which manages the creation of the center, which specifies an agreement of intent signed by the parties in April.
Ericsson plans to begin work, under the project, in 2011 by setting up a Russia-based company to manage Ericssons research activity at Skolkovo.
Details of the agreement were not provided.
Russian President Dmitry Medvedev signed a decree to create the Skolkovo research and development center in February 2010. He has described it as the Russian version of the U.S. Silicon Valley.