Peter Löscher, Siemens’ CEO and president, said at a press briefing earlier this month that his company is investing €40 million in Russia with plans to set up as many as 90 different R&D centers in tight cooperation with Skolkovo.
It is the first German company to put up a sizable amount of funds to participate in the development of the state-sponsored innovation hub under construction outside Moscow.
Over the next two to three years, the German technology giant will not only complete this investment but will also add another €20 million it expects to borrow from the Russian government, Löscher also revealed.
The Skolkovo program already has soaked up a reported $250 million, and its full launch remains months, if not years, away.
Sources: Elec.ru, Skolkovo Foundation
