Some up coming Russian projects in India

• Russia’s AFK Sistema holding a controlling stake (74%) in the Indian telecommunications company Sistema Shyam Telelink Ltd is building a mobile phone network under brand “MTS”. Sistema is planning to invest up to US$7 billion in this project. The Pan-Indian telecom network is to be commissioned in the coming years.

• In 2010 a joint venture between Russia’s major truck manufacturer Kamaz and Vectra Group in Hosur (Tamilnadu) started assembling Kamaz-6540 dump trucks with a gross weight of over 25 metric tons. It is planned that in three to four years 30% to 40% of all components for these vehicles will be produced in India.

• Russian heavy tractor manufacturer Promtractor is also setting up an assembling plant in India.

• Sberbank will also open its branch in India