Titanium Valley is looking forward to welcome its British and French residents

05.05.2011 — News

SVERDLOVSK REGION.

The French government is scrutinizing possibilities of participation in implementation of the project aimed at establishment of the Titanium Valley Special Economic Zone in Verkhnyaya Salda. This intention was announced by Pierre Filatoff, Consul General of France in Ekaterinburg, during his visit to the VSMPO-Avisma Corporation, OJSC.

In April 2011, the diplomat met with Oleg Leder, the company's Deputy General Director for Marketing and Sales. They discussed accomplishments of cooperation between VSMPO and well-known French companies, such as Airbus, Snecma, Embraer, and Turbomeca.

"I came to get a better understanding of the progress and current status of the special economic zone. France is planning to join the project. The aim of my visit is to obtain reliable information about Titanium Valley", - Pierre Filatoff said.

The representatives of the corporation have informed "RusBusinessNews" that the government of another European state - Great Britain - is already promulgating opportunities offered by Titanium Valley among business people. The UK Trade and Investment Department used its portal to place the information about the qualification requirements for residents of this special economic zone and its focal enterprise - the VSMPO-Avisma Corporation, OJSC".

The issue pertaining to development of cooperation between British and Verkhnyaya Salda manufacturers was discussed last month when James McGuire, British Consul General in Ekaterinburg, visited VSMPO. "We are definitely willing to participate in the ambitious project of Titanium Valley", - he said during the negotiation with Mikhail Voevodin, General Director of the corporation. The diplomat expressed his hope that in the near term delegations of British business people will come to Verkhnyaya Salda to see with their own eyes what opportunities can they expect from the future special economic zone.

The establishment of the special economic zone is going to cost more than 50 billion rubles raised as investment. The project is expected to attract at least 15 residents - legal entities that will develop the raw material base, manufacture high value-added products for chemical engineering, nuclear power industry, aircraft and railway engineering, and non-ferrous metallurgy.

The residents will be exempted from property, land and transport taxes; the profit tax rate will be decreased for them from 20 to 15.5%. The preliminary estimates show that the project is expected to bring RUR 179 bn to budgets of all levels by 2030.