Chinese firm signs MoU with the government of Gujarat state
ZTEsoft, the software subsidiary of Chinese telecoms equipment manufacturer ZTE, has signed a memorandum of understanding with the government of India’s Gujarat state to collaborate on the development of smart city projects.
Under the terms of the collaboration agreement, ZTEsoft and the government of Gujarat will cooperate to find the target city and area to initially launch a smart city trial. According to local press reports, the government of Gujarat is looking to develop at least seven smart city projects across the state.
ZTEsoft International CEO Ben Zhou recently announced plans to invest around $78 million in smart city projects in India over the next five years. Zhou also said that he company plans to invest $15.6 million in the deployment of a dedicated center for smart city projects and brand building in India.
In April 2015, the government of India has approved a project to develop 100 smart city projects across the country. The government has allocated $937 million for the implementation of these projects.
ZTEsoft India and South Asia Managing Director for Enterprise Business Prasoon Sharma recently said that the firm is ready with approved funds that will enable it to implement technologies and other resources immediately once it signs any new project.
For 2015, ZTEsoft aims to reach revenues of nearly $80 million, up compared to $ 39 million. ZTEsoft has 80 employees in the Asian country.
ZTEsoft has been working in the execution of smart city projects for the last five years. The Chinese firm has already worked in 110 projects in 40 countries. A total of 10 smart city projects had been implemented in China. The company has been involved in smart city projects in Laos, Sri Lanka, France, Romania, Turkey, Nigeria, Ethiopia, Sudan, Chile, Venezuela and Uruguay, among other countries.
