The Institute “Mihajlo Pupin” establishes the joint venture company for production and placement of the automated toll systems for motorways and Intelligent Transport Systems (ITS) with the Russian state-owned companies Avtodor and Vneshekonombank Investment Company (VEB Capital). The purpose of the joint company is to implement the above mentioned products in the markets of the Russian Federation and Commonwealth of Independent States (CIS).

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At the Economic Forum, held in St Petersburg in May this year, Mr Yuri Kudimov, General Manager of the VEB Capital, the Investment Fund of the Vneshekonombank, Mr Aleksandar Juskin, General Manager of the Avtodor Telecom and dr Vladan Batanovic, Financial and Export Manager of the Institute “Mihajlo Pupin”, signed the Memorandum of Understanding in the presence of the Minister of Transport of the Russian Federation Maxim Sokolov and Mr Yuri Keljbah, General Manager of the Avtodor. The joint company shall become operational during the summer 2014. For the beginning the company shall be located in the premises of the Institute. As a part of the joint approach to the Russian market, the Institute shall develop new and adopt the existing systems for the Russian transport industry for this new company called “SOFTOLL”. This company shall produce these systems in Serbia and export them to the Russian market, and another new joint company, which should be founded in Russia, will be responsible for installation and maintenance of the realized systems. The Russian companies will be the majority owners of the company “SOFTOLL”. 

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