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

Related Content

  • IntelliDrive and HOT lanes - the next generation?
    January 30, 2012
    Janet Banner, Metropolitan Transportation Commission, and Christopher Hill, Mixon Hill, Inc., outline efforts to explore the use of IntelliDrive technologies in HOT lane applications. On 21 October last year more than 100 transportation professionals came together for a workshop, either in person or via a webinar, to discuss the potential role of IntelliDriveSM technologies in enhancing the operations of High-Occupancy Toll (HOT) lanes. The discussions focused on a White Paper, commissioned by the Metropoli
    Read More
  • Xerox and Mitsubishi Heavy Industries to partner on ITS projects
    October 7, 2015
    Xerox and Mitsubishi Heavy Industries (MHI) have signed a memorandum of understanding to explore, globally, on a case-by-case basis, potential joint intelligent transport system (ITS) opportunities. The two companies will focus on electronic toll collection, highway traffic management, telematics and intelligent urban parking in which Xerox has proficiency in back-end software and operations, predominantly in the Americas and Europe, while MHI has strength in front-end hardware and maintenance, predomina
    Read More
  • Baltic States and Poland to cooperate in ITS development
    July 18, 2014
    Representatives of the national road administration directorate s of Poland, Lithuania, Latvia and Estonia have signed a Memorandum of Understanding and Intentions in the field of intelligent transport systems (ITS) associated with national traffic management systems and development of the Via Baltica road corridor. The four countries have committed to creating possibilities for joint development programs and projects of mutual interest. They will exchange traffic, road weather, road work, e-tolling, fre
    Read More
  • What actually happens if we do #FreetheMIBs?
    May 1, 2020
    Q-Free’s #FREEtheMIBs campaign highlights the use of manufacturer-specific data output, storage and communication protocols in traffic lights and ITS systems.
    Read More

Highlighted Content