Huawei to buy Russian commercial center for new R&D site – Telecompaper

Huawei Technologies Co. Ltd. intends to buy a 50,000 square-meter commercial center in St. Petersburg, Russia, for 5 billion Russian rubles, Telecompaper reported Dec. 23, citing Kommersant.

The Chinese communications equipment manufacturer plans to set up a research and development facility in the business center, according to the report.

Huawei reportedly planned to buy the Novospassky business center in Moscow, before abandoning the plans.

The company currently has staff in four locations in Moscow.

As of Dec. 23, US$1 was equivalent to 73.43 Russian rubles.