Vladimir Putin has promised to launch a "Titanium Valley" in the Urals that would include special tax incentives

18.11.2010 — News

SVERDLOVSK REGION.

A special economic zone called the "Titanium Valley" is to be established in the Sverdlovsk region. Russian Prime Minister Vladimir Putin, who arrived in the region on a working visit on Nov. 18, 2010, claimed that the federal government would make the necessary decisions on this matter in the next two weeks.

The foundation of the SEZ will be the Verkhnyaya Salda Metallurgical Production Association (the VSMPO-Avisma corporation). Arvi, SR Systematics, MAG, and United Aircraft Corporation (UAC) have already announced their willingness to become part of this zone. They will all be able to enjoy preferential tax treatment five years after the special economic zone is created.

Ural Boeing Manufacturing told RusBusinessNews that Vladimir Putin visited their joint venture and was shown the process for machining titanium forgings for the Boeing 787 and Russian airliners. In the past year, VSMPO-Avisma has tripled the amount of titanium forgings it supplies to Boeing.