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"Titanium Valley" becomes an effective instrument of budget spending

Special economic zone "Titanium Valley" has become the "pilot" project of the program of Sberbank of Russia to finance industrial parks. Under the "New Industrialization of Russia" program the agreement on cooperation between Titanium Valley SEZ JSC and Sberbank of Russia JSC was signed. This agreement provides for a long-term cooperation between the bank and the management company Titanium Valley on the implementation of investment projects and SEZ infrastructure development. After the signing of the Agreement the loan requests will be established.
Participation in the Sberbank borrowed funds project will reduce the volume of budget financing of the Titanium Valley project. The agreement will allow the SEZ management company to build a number of infrastructure platforms without using budget funds or significantly reducing their volume. Within the program Sberbank finances the construction of sites with the perspective of investment return, that is, the sites for use of which the charging rates are set for SEZ residents. The payments for use of these sites will redeem bank loans.

In addition, the agreement is useful to potential residents of the valley, it will simplify the process of obtaining long-term investment loans.

General Director of Titanium Valley SEZ JSC, Artemiy Kyzlasov: "We are not just building the production site, we are implementing a tool of effective management of financial flows, involving not only budget money, but private investment and borrowed funds. So on the one hand, we are accelerating the construction works on commissioning the infrastructure sites, and on the other hand – reducing the burden on the budget.
06.11.2012