Russia?s largest radio electronic holding unveils $6.7bn modernization program

Russia?s largest radio electronic holding unveils $6.7bn modernization programBy 2020, Roselectronica, Russia?s umbrella company for radio electronic assets, is expected to invest in excess of $6.7bn in innovation and modernization

By 2020, Roselectronica, Russia?s umbrella company for national radio electronic assets, is planning to invest in excess of $6.7bn in innovation and modernization, the Roselectronica press service announced last week. About $2.8bn, or 41% of the overall funds allocated, will pay for the diversification of companies that the holding consists of, and their entry into high-tech civilian markets. Roselectronica?s seven-year program calls for a major step-up in R&D, technology upgrades, engineering renovation, and a substantial boost in energy efficiency and eco-friendliness of domestic radio electronic production. Other areas the program is expected to pay for include the setup of the holding?s own innovation infrastructure, as well as an increase in staff training and labor efficiency. Roselectronica will cover the program costs from its operational proceeds, the press service underscored. The investment will be used, among other things, to develop and manufacture new microwave electronics and materials; new communications systems and special-purpose control systems; industrial electronics, advanced IT and telecom solutions; security systems; and medical and microwave scanning equipment...