Intel plans to set up its research division at Skolkovo ”either in 2015 or 2016,” depending on the office buildings and infrastructure, vice president of the corporation for EMEA Christian Morales told ITAR-TASS on the sidelines of the 14th St. Petersburg International Economic Forum last week.
According to the 2011 agreement signed by Intel and Skolkovo, the research and design center was scheduled for launch by 2015. Intel Capital, the venture arm of the international electronics giant, received the status of accredited venture fund.
“Skolkovo is a terrific initiative that we are deeply immersed in. Negotiations are continuing on the creation of an R&D center, and they will take a year or two,” Morales said, noting that the total volume of Intel investment in Russia in the last 20 years has been around $1 billion (not counting Intel Capital investment).
Intel is abiding by sanctions imposed on Russia by the United States, but it remains committed to Russian business, Morales emphasized.
“In the last 20 years of work, we have seen ups and downs. At present, in spite of the sanctions, demand from state agencies, as well as from private clients, is growing in Russia. We are dependent on the decisions of regulators, but we remain committed to business in Russia,” he said.
Source: ITAR-TASS
