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News

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First federal money to the accounts Titanium Valley will go early next year

The first transfer of funds to the accounts of the SEZ «Titanium Valley» from the federal budget will be implemented in early 2013. The journalists reported the press-center of the Sverdlovsk Region Government, in whose territory the project will be implemented. «At the first stage of construction the needs of» Titanium Valley «(or rather — to cover the non-returnable portion of costs) will be allocated 7.67 billion rubles… Payment scheme already approved by the ministry, and the first tranche (which is about 3.2 billion.) To the accounts of «special zone» will go in the near future «- explained the situation in the regional administration.

Along with the news about the date of the first federal funds to prepay «Titanium Valley» in the Russian media appeared detailed information about the overall scheme of the project investment. According to some data, pays part of the potential costs (about 1.3 bln. Rubles) will be financed under the terms of the special lending under state guarantees «Savings Bank» and «Vnesheconombank». The remaining amount will be divided into two approximately equal parts (49% and 51%), which will take the load (respectively) the local and federal budgets.

«Titanium Valley» — the name of a large-scale investment project implemented in the Sverdlovsk region of Russia. Within its framework is expected to create Special Economic Zone (an industrial site with a number of preferences on taxation for resident companies). The project quickly started in December 2010, but a few months after the start of the SEZ development pace significantly decreased and later progress at the site and at all slowed down. The reason — lack of funds for the harmonization of documentation and an acute shortage of money for the construction of the facility. In November of this year (reported to the government of the Sverdlovsk region) work on «Titanium Valley» site was renewed.

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