A press conference dedicated to the development of the special economic zone known as the Titanium Valley was coordinated at the recent international arms exhibition in Nizhniy Tagil.

Titanium Valley Management Company’s Director-General Artemiy Kyzlassov told the reporters that the construction of infrastructure, including temporary engineering networks, roads, and a small town, would begin in November. All the necessary construction jobs are expected to be completed by April or May 2012, whereupon the valley’s residents (three or four companies) will be able to start the construction of their own future enterprises.

Two residents belong to VSMPO-Avisma and two more are average-sized Russian companies. Between ten and fifteen potential residents of the valley are currently getting all the necessary permissions,’ Kyzlassov said.

He also announced the Titanium Valley’s Moscow office was about to open.

We already know the name of the person who is going to run the special economic zone’s Moscow representation. His candidacy now has to be approved by Governor Alexander Misharin. The approval will take about a fortnight, and then the Titanium Valley’s Moscow office will start operating,’ the company’s DG explained.

Artemiy Kyzlassov reminded those present that 35bn RUR was to be allocated for the implementation of the Titanium Valley project. A third would come from the outside funds and the remaining two-thirds would come from the budget. The valley’s residents are expected to invest 110bn RUR as well.

By 2030, the 1,000-hectare area will house sixty-five enterprises and all kinds of infrastructure networks: a power station, an office and business center, a loading yard, a customs points, highways and railroads.