The Ministry of Economic Development and the Titanium Valley management company have agreed on the amount of budgetary financing for the first phase of a special economic zone in Verkhnyaya Salda, Sverdlovsk region in the amount of 7.67 billion roubles, according to Titanium Valley’s general director Artemy Kyzlasov.

The project to create a special economic zone Titanium Valley in Verkhnyaya Salda, Sverdlovsk region will be oriented toward enterprises machining titanium for aircrafts, space applications, ship and automobile production, the energy sector, medical uses, and engine-building applications. The project is currently at an early stage of implementation, that of the formation of the special economic zone’s infrastructure.