Parent Sistema Board Meet on Nov 11...may give clarity for Sistema Shyam IPO

Sistema presses the pedal


C Chitti Pantulu / DNAThursday, October 29, 2009 2:07 IST Email

Bangalore: After committing $4 billion in investments over the next few years into its telecom joint venture with Shyam Group, the $16 billion Russian conglomerate Sistema is now all set to venture with further multibillion investments in diverse sectors in India that include the pharma, retail, hi-tech manufacturing, tourism and healthcare sectors.

The company is likely to finalise and announce some of these plans after its board meeting to be held forthe first time outside Russia in Bangalore on November 11, Sergey Cheremin, deputy chairman, Sistema, said.

To start with it will expand its relationship with the Shyam Group to include the manufacturing of telecom equipment and micro electronics through a joint venture through Sitronics, Sistema's $1.6 billion technology arm which provides telecom solutions, including software, equipment, systems integration, IT and microelectronics solutions in Russia and the CIS. The company is listed on the London Stock Exchange.



Apart from looking to bid for the Indian government's multibillion unique identification (UID) project, Sistema will also roll out telecom solutions like radios, microwave transmitters, billing systems, RFID applications, and SIM card manufacturing, Cheremin said.



Sistema is also talking to several state governments and the centre in India to provide telematic solutions using Global Navigation System (GNS), the competing tech-

nology to the Global Positioning System (GPS), which enables precise tracking of

objects to within 2 centimetres apart from security solutions to them.



The company has already approached the Delhi andthe Gujarat governments to provide disaster management solutions.