The entrance ticket to the Titanium Valley was estimated at 3 million euro

21.12.2010 — News

SVERDLOVSK REGION.

2011 will see the development of the first phase (300 hectares) of the Special Economic Zone, Titanium Valley, in the Sverdlovsk Region. On December 16th in 2010, the Prime Minister Vladimir Putin signed the ordinance for development of Russia's fourth special economic zone.

By 2016, the total area of the Titanium Valley will amount to 700 hectares. Its anchor resident will become the VSMPO-Avisma Corporation, which initiated the creation of the special economic zone. Arvi, SR Systematics, MAG, and the United Aircraft Construction Corporation announced their intention to become residents of this zone.

It is planned that the residents will not pay property, land and transport taxes; the profit tax rate will be decreased from 20 to 15.5%. The Titanium Valley will have the status of a free customs zone: the residents will have the right to import goods to Russia without having to pay customs duties and VAT.

As "RusBusinessNews" was informed by representatives of the Sverdlovsk Region's government, the prerequisite for being qualified as a zone resident is investment equal to minimum 3 million euro in industrial production operations performed within the Special Economic Zone, provided that minimum 1 million euro has been invested within the first year upon registration. At the initial stage of operations in the Titanium Valley, the total amount of investment is estimated at about 40 billion rubles.