Russian Rostelecom to invest $30 million in its Armenian subsidiary in 2012-2016

YEREVAN, September 22. / ARKA /. Russian Rostelecom, one of the biggest national telecommunications companies in Russia and Europe, will have invested about $30 million in its Armenian subsidiary in 2012-2016, Rostelecom deputy CEO Alexander Rogovoy said today in Yerevan.

Speaking at a news conference he said Rostelecom has already invested around $20 since its acquisition of its subsidiary GNC-ALFA here in 2012. According to him, Rostelecom is focusing on extending its products and services from the capital city Yerevan to regions of the country.

Earlier this year GNC-ALFA chief executive officer Hayk Faramazian said Rostelecom was planning to invest this year some $10 million in the improvement of customer service quality through the introduction of electronic technology, human resource development and expansion of the network. 

Rostelecom’s Armenian subsidiary offers high-speed Internet services, IP television and telephony service.  Its fiber-optic network covers 80% of the territory of Armenia being connected to the main regional backbones and major international traffic exchange  channels via Georgia and Iran. 

Rostelecom is present in every segment of the telecommunications services market and coverage of more than 34 million households in Russia. It holds a leading position on the Russian broadband and pay TV markets, with over 10.9 million fixed-line broadband subscribers and more than 7.7 million pay TV customers, of which more than 2.4 million use the unique nationwide “Interactive TV” product. 

The Group’s consolidated revenue for the first quarter of 2014 was RUB 80.4 billion and its OIBDA reached RUB 26.5 billion (33.0% of revenue), with a net profit of RUB 6.9 billion. Rostelecom is an absolute market leader in providing the telecommunications services to Russian government departments and corporate users at every level. -0-