Titanium Valley
Encyclopedia
Titanium Valley is a planned special economic zone
in Sverdlovsk Oblast
in the Urals Federal District
of Russia
, which will focus on creating titanium
products for the aircraft, automotive, shipbuilding and medical industries. It will be created around the world's largest titanium producer, VSMPO-Avisma
. The Russian government plans to invest at least 40 billion rubles ($1.29 billion) for the project.
The purpose of the special economic zone, to be located in the city of Verkhnyaya Salda
, is to give enterprises the opportunity to develop and produce value added products in the region and bring international partners to the zone. A total of 20 companies will participate in the project, and it is expected to create 20,000 jobs in the city. The participating companies include VSMPO-Avisma
, Arvi
, SR Systematics, MAG
, and United Aircraft Corporation
. Companies operating in the zone will enjoy preferential tax treatment, and Governor of Sverdlovsk Oblast Aleksandr Misharin has stated that he expects the incentives to enable the companies to produce globally competitive products and create new jobs.
While visiting the region, Prime Minister Vladimir Putin
said on 13 November 2010 that a decree for creating the special economic zone will be signed in two weeks. Titanium maker VSMPO-Avisma
has already spent $700 million in preparation, and Russia's leading pipe producer ChelPipe has also already spent over $630 million into modernizing its facilities. Foreign companies considering to create production facilities in the zone include Rolls-Royce Group and Goodrich Corporation
.
The Titanium Valley project is part of Russia's ongoing effort to modernise and diversify its economy
, one of the main programs of Dmitry Medvedev
's presidency.
Special Economic Zone
A Special Economic Zone is a geographical region that has economic and other laws that are more free-market-oriented than a country's typical or national laws...
in Sverdlovsk Oblast
Sverdlovsk Oblast
Sverdlovsk Oblast is a federal subject of Russia located in the Urals Federal District. Its administrative center is the city of Yekaterinburg formerly known as Sverdlovsk. Population: -Geography:...
in the Urals Federal District
Urals Federal District
Ural Federal District is one of the eight federal districts of Russia. The district was established on 13 May 2000 by a decree of the President of Russia. The district is mostly located in the geographical region of Ural, but also includes some parts of the Volga Region; its extent is different...
of Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
, which will focus on creating titanium
Titanium
Titanium is a chemical element with the symbol Ti and atomic number 22. It has a low density and is a strong, lustrous, corrosion-resistant transition metal with a silver color....
products for the aircraft, automotive, shipbuilding and medical industries. It will be created around the world's largest titanium producer, VSMPO-Avisma
VSMPO-AVISMA
VSMPO-AVISMA Corporation , where VSMPO stands for Verkhnesaldinskoye metallurgicheskoye proizvodstvennoye ob'yedineniye , is the world's largest titanium producer. Located in Verkhnyaya Salda, Russia, VSMPO-AVISMA also operates facilities in Ukraine, England, Switzerland, Germany and the United...
. The Russian government plans to invest at least 40 billion rubles ($1.29 billion) for the project.
The purpose of the special economic zone, to be located in the city of Verkhnyaya Salda
Verkhnyaya Salda
Verkhnyaya Salda is a town in Sverdlovsk Oblast, Russia, located on the Salda River , north of Yekaterinburg. Population: It was founded in 1778; town status was granted to it in 1938....
, is to give enterprises the opportunity to develop and produce value added products in the region and bring international partners to the zone. A total of 20 companies will participate in the project, and it is expected to create 20,000 jobs in the city. The participating companies include VSMPO-Avisma
VSMPO-AVISMA
VSMPO-AVISMA Corporation , where VSMPO stands for Verkhnesaldinskoye metallurgicheskoye proizvodstvennoye ob'yedineniye , is the world's largest titanium producer. Located in Verkhnyaya Salda, Russia, VSMPO-AVISMA also operates facilities in Ukraine, England, Switzerland, Germany and the United...
, Arvi
Arvi
Arvi may refer to:*Arvi, Wardha the city in the Wardha district of Maharashtra*Arvi, Crete, a village in south Crete*the taro and Eddoe plant and vegetable, in Urdu and Hindi in South Asia...
, SR Systematics, MAG
MAG
In cryptography, MAG is stream cipher algorithm developed by Rade Vuckovac. It has been submitted to the eSTREAM Project of the eCRYPT network. It has not been selected for focus, nor for consideration in Phase 2; it has been 'archived'....
, and United Aircraft Corporation
United Aircraft Corporation
United Aircraft Corporation may refer to one of the following:* United Aircraft Corporation, formerly United Aircraft and Transport Corporation; now known as United Technologies Corporation....
. Companies operating in the zone will enjoy preferential tax treatment, and Governor of Sverdlovsk Oblast Aleksandr Misharin has stated that he expects the incentives to enable the companies to produce globally competitive products and create new jobs.
While visiting the region, Prime Minister Vladimir Putin
Vladimir Putin
Vladimir Vladimirovich Putin served as the second President of the Russian Federation and is the current Prime Minister of Russia, as well as chairman of United Russia and Chairman of the Council of Ministers of the Union of Russia and Belarus. He became acting President on 31 December 1999, when...
said on 13 November 2010 that a decree for creating the special economic zone will be signed in two weeks. Titanium maker VSMPO-Avisma
VSMPO-AVISMA
VSMPO-AVISMA Corporation , where VSMPO stands for Verkhnesaldinskoye metallurgicheskoye proizvodstvennoye ob'yedineniye , is the world's largest titanium producer. Located in Verkhnyaya Salda, Russia, VSMPO-AVISMA also operates facilities in Ukraine, England, Switzerland, Germany and the United...
has already spent $700 million in preparation, and Russia's leading pipe producer ChelPipe has also already spent over $630 million into modernizing its facilities. Foreign companies considering to create production facilities in the zone include Rolls-Royce Group and Goodrich Corporation
Goodrich Corporation
The Goodrich Corporation , formerly the B.F. Goodrich Company, is an American aerospace manufacturing company based in Charlotte, North Carolina. Founded in Akron, Ohio in 1870 as Goodrich, Tew & Co. by Dr. Benjamin Franklin Goodrich. The company name was changed to the "B.F...
.
The Titanium Valley project is part of Russia's ongoing effort to modernise and diversify its economy
Medvedev modernisation programme
The Medvedev modernisation programme is an initiative launched by President of Russia Dmitry Medvedev in 2009, which aims at modernising Russia's economy and society, decreasing the country's dependency on oil and gas revenues and creating a diversified economy based on high technology and innovation...
, one of the main programs of Dmitry Medvedev
Dmitry Medvedev
Dmitry Anatolyevich Medvedev is the third President of the Russian Federation.Born to a family of academics, Medvedev graduated from the Law Department of Leningrad State University in 1987. He defended his dissertation in 1990 and worked as a docent at his alma mater, now renamed to Saint...
's presidency.