10 Sep 2010 18:00

Rusnano, AFK Sistema, X5 Retail to create 'store of the future'

MOSCOW. Sept 10 (Interfax) - Russia's state corporation Rusnano, AFK Sistema , and X5 Retail Group, which operates the retail chains Perekryostok and Pyaterochka, have decided to create a store outfitted with RFID (radio frequency identification) chips.

The partners will finance the project in differing proportions, Rusnano's general director, Anatoly Chubais, told reporters after a meeting focusing on the corporation's three-year action plan.

The store will open in Moscow, and the deal take will one and a half to two years to implement.

Rusnano and Sistema had earlier advanced the idea of introducing in Russia a RFID technology program for the 'chipping' of goods in stores, pharmaceutical products, library and museum inventory, and postal shipping. RFID technology could also be used with public transportation fare-cards.