VEB.RF and ROSSETI Agreed on Joint Projects and Programs in Digital Network Transformation

VEB.RF and ROSSETI Agreed on Joint Projects and Programs in Digital Network Transformation 14.02.2019

Under the umbrella of of the Russian Investment Forum in Sochi, PJSC ROSSETI and VEB.RF have signed a Memorandum of Cooperation in the field of digital transformation of power grids and diversification of activities of enterprises of the defense industry of the Russian Federation The document was signed by Pavel Livinskiy, Director General of ROSSETI, and Igor Shuvalov, Chairman of VEB.RF.

VEB.RF and ROSSETI agreed on priority areas for further long-term and mutually beneficial cooperation. The parties are ready to identify projects aimed at the development and implementation of digital technologies in the electric grid sector, including the use of Russian high-tech civilian products.

“In order to implement projects like this, VEB.RF is ready to finance the buyers at a preferential rate. "VEB.RF is working towards expanding financing facilities to stimulate demand for Russian civilian products,” said Igor Shuvalov.

The Memorandum provides for the stimulation of the development of civilian production for the needs of the companies of the ROSSETI Group and interaction in the implementation of the Digital Economy national programme of the Russian Federation.

“Having such a reliable partner is very important for us. ROSSETI is interested in the development of manufacture of domestic products for the power grid sector. I am convinced that by combining the efforts of business and development institutions, it will be possible to find points of contact between financial and industrial potentials in order to implement our large-scale project of digital transformation of the electric power industry. Moreover, it will help to maximize the multiplier effect for the entire economy rather than for each of the parties solely,” said Pavel Livinskiy.

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