Russia to create special economic zone Titanium Valley
About 9.5 billion roubles (1 rouble roughly equals 32.9 U.S. dollars) will be allocated to the Urals Sverdlovsk region to create a special economic zone Titanium Valley, according to the government’s resolution published on Wednesday on its official website.
In 2011-2013, a total of 951 million roubles were allocated for these purposes from the Sverdlovsk region budget, in 2014 the sum is planned at 841 million roubles. But an overall cost of the construction of the first phase of infrastructure facilities in 2012-2016 is estimated at 25.031 billion roubles. So, the Russian government thinks that if the project is financed from the regional budget and off-budget sources (12.4 billion roubles) only, the timeframe of the project will inevitably be extended, hence the development of the zone will be hindered. It is planned to create 2,160 new jobs in the Titanium Valley zone by 2023. Tax revenues are expected to reach 11.5 billion roubles by that time.
In this context, the Russian government has decided to transfer an additional sum of at least 4.7 billion roubles to the Sverdlovsk region budget and instructed the ministry of economic development and the ministry of finance to fix extra sums of up to 4.8 billion roubles as allocations to the Sverdlovsk region in the federal budget for 2015 and a bigger period of up to 2017.
- September 6, 2017PPG Industries＇ industrial coatings business has introduced POWERCRON EPIC electrocoats (e-coats), a line of next-generation, cationic-epoxy products that will be used for the first time in North America ...view
- January 10, 2018The plastic industry is the second largest user of titanium dioxide. Generally, the consumption of titanium dioxide in the plastic field accounts for 20% of the consumption of titanium dioxide in the ...view
- September 6, 2017Chevron Phillips Chemical Co. LLC announced Oct. 31 that it had sold a polystyrene manufacturing plant in China to Grand Astor Ltd.Chevron Phillips said the PS resin plant, in Zhangjiagang, Jiangsu pr...view
- September 6, 2017Hostmann-Steinberg announced its Platinum Sponsorship at this year’s annual PrintUV Conference. The company is eager to discuss with the printers attending this year’s conference its complete UV pro...view
- September 6, 2017With the raw material cost increases of 2016 set to continue into 2017, leading coatings manufacturer Hempel has announced price increases of certain products.The cost of many raw materials used in th...view
- August 4, 2021Since at the end of July, Tio2's foreigninquiries have increased significantly, market begin to getting hot , the priceof raw material titanium ore has stopped falling, and the price of sulfuricacid h...view