MTS to invest $2.97 billion in 3G networks by 2020

Business Materials 19 February 2008 03:21 (UTC +04:00)

( RIA Novosti) - Russia's largest mobile communications operator, Mobile TeleSystems (MTS), said Monday it will invest 73 billion rubles ($2.97 billion) in third generation (3G) networks by 2020.

Out of the sum, 38 billion rubles ($1.55 billion) will be invested by 2011.

MTS CEO Leonid Melamed was quoted as saying that development of 3G networks and broadband wireless Internet access were important elements of Russia's innovation policy.

Third-generation mobile networks, pioneered in Japan and South Korea, offer enhanced services, including high-speed data transmission.