Russia's Enforta to Invest $50 Mln in WiMAX Networks
MOSCOW, Jan 30 (Prime-Tass) -- Russia's Prestige-Internet, operating under the Enforta brand, plans to invest over U.S. $50 million in the construction of WiMAX networks in 28 cities in Russia, the company's Product and Marketing Director Oleg Tainov told Prime-Tass Monday.
The construction is expected to be completed within two years, the company said in a press release Monday.
The company currently operates WiMAX networks in Novosibirsk and Ryazan and plans to launch its networks in 12 more cities by July, Tainov said, adding that the 12 cities do not include Moscow or St. Petersburg.
Tainov said that the company plans to build the networks itself, however, it may consider buying existing networks from other companies.
Investments are expected to be made by Sumitomo Corporation and Baring Vostok Capital Partners (BVCP).
Prestige-Internet, founded in 2003, is 100% controlled by the Netherlands' Enforta BV. Sumitomo Corporation and BVCP jointly own 75% in Enforta BV, while the rest is owned by the company's founders and top managers.
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Posted to the site on 30th January 2006
