Russia’s GLONASS Union may set up $100 million joint venture in India

Russian non-profit partnership GLONASS Union and India’s Eirene Systems may set up a joint venture to develop and produce satellite navigation receivers for the ERA GLONASS emergency response system, with about $100 million investments, the union’s President Alexander Gurko told PRIME on Thursday.

Russian non-profit partnership GLONASS Union and India’s Eirene Systems may set up a joint venture to develop and produce satellite navigation receivers for the ERA GLONASS emergency response system, with about $100 million investments, the union’s President Alexander Gurko told PRIME on Thursday.

“We are joining efforts with our partners from India to develop, produce and implement joint solutions in navigation using our GLONASS technology and Indian own navigation system IRNSS. The sides may develop GLONASS/GPS/IRNSS receivers for markets of Russia, India and the third countries,” Gurko said.

The joint venture can be established if India decides to implement the ERA GLONASS emergency response system, which can be finished within four to five years, like it was done in Russia.

The establishment of a joint stock company GLONASS is being finished in Russia, and it will start operations in January-March 2015, he said. After that final agreements on the joint venture with India may be reached, he added.

GLONASS Union plans to receive $200 million-$300 million of revenue from the joint venture within three to four years, Gurko said.

Russia also offered Egypt, United Arab Emirates, Bangladesh, Myanmar, Nepal, Vietnam and Indonesia to implement the ERA GLONASS project. “Talks with some of these countries are already being held. India may become a platform to implement the project in its neighboring countries of South and Southeast Asia,” he added.

GLONASS Union is the sole contractor on the creation of the ERA GLONASS response system, which relays information about road accidents to emergency services.

The union comprises NIS GLONASS, which previously acted as the federal operator of GLONASS, RTComm.ru, a subsidiary of wireline giant Rostelecom, mobile operator MegaFon, telecommunications operator Summa Telecom, Internet company Yandex, and the GLONASS/GNSS Forum association.

First published by TASS.

All rights reserved by Rossiyskaya Gazeta.

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