Titanium Valley is a planned special economic zone in

Sverdlovsk Oblast Sverdlovsk Oblast ( rus, Свердловская область, Sverdlovskaya oblast) is a federal subject (an oblast) of Russia located in the Ural Federal District. Its administrative center is the city of Yekaterinburg, formerly known as S ...

in the

Urals Federal District Ural Federal District (russian: Ура́льский федера́льный о́круг, ''Uralsky federalny okrug'') is one of the federal districts of Russia, eight federal districts of Russia. Its population was 12,080,523 (79.9% urban) ...

Russia Russia (, , ), or the Russian Federation, is a List of transcontinental countries, transcontinental country spanning Eastern Europe and North Asia, Northern Asia. It is the List of countries and dependencies by area, largest country in the ...

, which will focus on creating

titanium Titanium is a chemical element with the symbol Ti and atomic number 22. Found in nature only as an oxide, it can be reduced to produce a lustrous transition metal with a silver color, low density, and high strength, resistant to corrosion in ...

products for the aircraft, automotive, shipbuilding and medical industries. It will be created around the world's largest titanium producer,

VSMPO-Avisma VSMPO-AVISMA Corporation (russian: ВСМПО-АВИСМА) is the world's largest titanium producer. Located in Verkhnyaya Salda, Russia, VSMPO-AVISMA also operates facilities in Ukraine, England, Switzerland, Germany, United States and poselok ...

. 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 (russian: Ве́рхняя Салда) is a town in Sverdlovsk Oblast, Russia, located on the Salda River (right tributary of the Tagil), north of Yekaterinburg. Population: History It was founded in 1778; town status was g ...

, 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

, Arvi, SR Systematics, , and

United Aircraft Corporation The PJSC United Aircraft Corporation (UAC) () is a Russian Aerospace manufacturer, aerospace and Arms industry, defense corporation. With a majority stake belonging to the Russian government, it consolidates Russian private and state-owned Russian ...

. 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 A prime minister, premier or chief of cabinet is the head of the cabinet and the leader of the ministers in the executive branch of government, often in a parliamentary or semi-presidential system. Under those systems, a prime minister is not ...

Vladimir Putin Vladimir Vladimirovich Putin; (born 7 October 1952) is a Russian politician and former intelligence officer who holds the office of president of Russia. Putin has served continuously as president or prime minister since 1999: as prime min ...

said on 13 November 2010 that a

decree A decree is a legal proclamation, usually issued by a head of state (such as the president of a republic or a monarch), according to certain procedures (usually established in a constitution). It has the force of law. The particular term used for ...

for creating the special economic zone will be signed in two weeks. 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 Dmitry Anatolyevich Medvedev ( rus, links=no, Дмитрий Анатольевич Медведев, p=ˈdmʲitrʲɪj ɐnɐˈtolʲjɪvʲɪtɕ mʲɪdˈvʲedʲɪf; born 14 September 1965) is a Russian politician who has been serving as the dep ...

presidency A presidency is an administration or the executive, the collective administrative and governmental entity that exists around an office of president of a state or nation. Although often the executive branch of government, and often personified by a ...

References

{{reflist Special Economic Zones of Russia Sverdlovsk Oblast