Friday, June 23, 2017

Airbus may join Boeing in Titanium Valley

Jean de Gliniasty, the French ambassador to Russia, recently said that French aircraft manufacturer Airbus may move into the Titanium Valley special economic zone.

In a meeting between de Gliniasty and Sverdlovsk Regional Governor Evgeny Kuyvashev, the ambassador promised to assist the Russian government in relocated Airbus to Titanium Valley, RusBizNews reports.

Boeing plans to expand its partnership with VSMPO-AVISMA - Ural Boeing Manufacturing as part of an agreement to move aircraft manufacturing facilities to Titanium Valley. Ural Boeing Manufacturing currently operates near Titanium Valley in Verkhnyaya Salda, situated in the northern Sverdlovsk region.

Titanium Valley, now in its second phase of construction in the north part of the Sverdlovsk region, was established by the Russian government in 2010 to attract Russian and international manufacturing businesses. When complete, the project will have cost an estimated $4.9 billion. Titanium Valley offers a subsidized business environment for its industrial and manufacturing clients. Titanium Valley is one of many programs implemented by the government to further develop the Urals Federal District through 2020, according to RusBizNews.

Since the Titanium Valley project launched, 10 companies have expressed interest in occupying the zone. Praxair, an American corporation, plans to spend between $7.9-$10.5 million to build a gas production and packaging station in Titanium Valley.