The first residents will be welcomed in the Titanium Valley in 2015
25.12.2012 — News
Construction of certain infrastructure facilities required for the first residents of the special economic zone Titanium Valley was postponed to a later date. The process is supervised by the authorities of the Sverdlovsk Region (Russia).
The regional government told RusBusinessNews that construction of 220 kV substation Titanium Valley was put off for a year. Construction of the main power source for the Special Economic Zone worth 136 million rubles will be included in the investment program of Ural MRSK, OJSC (Ural Interregional Distribution Grid Company) adopted for the years 2014-2015. Gas supply program will also be revised in the near future. Throughput capacity of the line delivering gas to the Special Economic Zone will be increased twofold to 12 kg per square cm, which will be beneficial for the development of the Titanium Valley and nearby town of Verkhnyaya Salda.
The Titanium Valley management company shall prepare detailed work schedules through 2015 when the first construction phase of the Special Economic Zone will be completed and first residents will be accommodated. Approximately 10 companies expressed interest in the Titanium Valley.
The Russian authorities are willing to allocate 3.25 billion rubles for the first construction phase of the Titanium Valley with overall expenses being as high as 7.67 billion rubles. Another 1.3 billion rubles required for construction of self-sustaining infrastructure shall be provided by Vneshekonombank and Sberbank in the form of bank loans. The remaining amount shall be covered by the Sverdlovsk Region budget.
The Titanium Valley is a special economic zone of industrial and production type with favorable economic terms for Russian and foreign entrepreneurs. Resolution to implement this project worth over 150 billion rubles was adopted by the Russian Federation government in December 2010. The Titanium Valley is included in the federal register of programs aimed at development of the Ural Federal District through 2020.
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