Swarco and Russian bank sign MOU

Russian banking and financial services company Sberbank and Austrian road construction and traffic management company Swarco have signed a Memorandum of Understanding aimed at ‘participation in joint initiatives and the cultivation of mutually profitable cooperation between the two parties as well as their subsidiary structures and groups’. The signing ceremony was held during the St Petersburg International Economic Forum. “The bank intends to actively develop the cooperation with the company in orde
June 20, 2016 Read time: 1 min
Russian banking and financial services company Sberbank and Austrian road construction and traffic management company 129 Swarco have signed a Memorandum of Understanding aimed at ‘participation in joint initiatives and the cultivation of mutually profitable cooperation between the two parties as well as their subsidiary structures and groups’.

The signing ceremony was held during the St Petersburg International Economic Forum.

“The bank intends to actively develop the cooperation with the company in order to modernise the transport infrastructure management system in the Russian regions, in particular such systems as Smart City. The company considers the possibility to organize an industrial production of the management systems and the correspondent software on the Russian territory”, Sberbank deputy chairman Svetlana Sagaydak said.

He said the bank is also ready to consider supporting projects of concern to Swarovski, which includes Swarco, including funding the supply of equipment and production development in Russia.
Urban Traffic Control

For more information on companies in this article

Related Content

  • Mostotrest and Kapsch TrafficCom form JV
    April 20, 2012
    Leading Russian diversified transport infrastructure construction company Mostotrest and Kapsch TrafficCom have formed a joint venture, United Tolling Systems, to develop the strategy for the introduction of intelligent motorway management systems. Media reports suggest that the partners intend to bid jointly for the construction of a toll road in southern Russia.
    Read More
  • MaaS Market Conferences on both sides of the Atlantic in 2018
    December 20, 2017
    Momentum shift in prospect as authorities accelerate plans to rethink transport provision. TS International’s second, two-day international MaaS Market conference takes place on 20 and 21 February 2018. The Mobility as a Service (MaaS) event is ideal for all organisations exploring new ways of getting people to their destination and new methods for them to pay for transport services.
    Read More
  • Smart Spanish city trials cell-based traffic management
    November 7, 2013
    David Crawford reports on an urban electronic nervous system. The northern Spanish city of Santander – historically a port - is now an emerging technology showcase attracting global attention as a prototype for a medium-sized smart city of the future. In a move to determine the optimal use of available data, it is creating a de-facto experimental laboratory for sensor and mobile phone-based urban traffic management and environmental monitoring innovations.
    Read More
  • Do we need a new approach to ITS and traffic management?
    January 31, 2012
    In an article which has implications for the European Electronic Toll Service, ASECAP's Kallistratos Dionelis asks whether the approach we currently take to major ITS system implementations is always the best or healthiest. I was asked recently to write a paper on the technology-oriented future of transport. To paraphrase, I started with: "The goal of European policy-makers is to establish a transport system which meets society's economic, social and environmental needs, satisfying in parallel a rising dema
    Read More

Highlighted Content