LLC TelecomInvest-XXI and Ericsson sign USD 40M contract

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Russian telecomoperator LLC TelecomInvest-XXI together with NEFTEGAZBANK and Ericsson have signed a contract for the supply of a multiservice network for the Moscow region and Moscow. The network starting from the end of year 2002, will provide telecommunications services for private and corporate users.
The network will use the most advanced Ericsson equipment  ­ including state-of-the-art access technology, Engine Access Ramp- and will allow TelecomInvest-XXI to provide a wide range of modern narrow- and broadband, voice and data communications services with flexible tariff plans. The contract includes supply of equipment and professional services.

"The contract has a strategic importance for NEFTEGAZBANK, because it allows the bank being the major shareholder in LLC TelecomInvest-XXI to strengthen its relationships with Ericsson, to expand the range of services based on new electronic technologies and take a firm position on the market of advanced banking services," said Mr.Golybev, Chief of the Board of Directors, NEFTEGAZBANK.

"With this contract we start our strategic partnership with Ericsson. We foresee extensive use of Ericsson's unique experience and deep insight into the future development of the industry," said Mr. Grigoriev, General Director, LLC TelecomInvest-XXI.

"We are very proud of this partnership and look forward to a long and fruitful close cooperation between the companies in developing world class information and communication technology," said Bjorn Hemstad, President, Ericsson Eastern Europe and Central Asia.

Ericsson is shaping the future of Mobile and Broadband Internet communications through its continuous technology leadership. Providing innovative solutions in more than 140 countries, Ericsson is helping to create the most powerful communication companies in the world.