Russia Breaks Ground on New Titanium Production Plant

The Sverdlovsk Region of Russia marked the commencement of a significant new development within the Titanium Valley Special Economic Zone (SEZ) on 22 February. Dmitry Ionin, Deputy Governor of the region, led the groundbreaking ceremony for a new plant dedicated to producing titanium bars, rings, and ingots. This venture, spearheaded by the Isetsky Forging and Mechanical Plant (IKMZ), signifies a major expansion for the company and a leap forward for the local titanium industry.

Spanning approximately five thousand square meters, the plant represents a strategic move by IKMZ to augment its production capabilities. Already an established name in the Sverdlovsk region with its initial site in Bolshoy Istok, IKMZ's decision to expand into the Titanium Valley SEZ underscores the region's commitment to fostering a conducive environment for industrial growth. The local government, following directives from Governor Evgeny Kuivashev, has rolled out a suite of tax and customs incentives, coupled with robust engineering infrastructure, to support such entrepreneurial ventures.

The project, slated for completion by 2026, entails an investment of around one billion roubles and is expected to generate 115 new jobs. Its output is aimed at serving the needs of leading industrial enterprises across the Russian Federation, positioning IKMZ as a pivotal player in the national high-tech manufacturing sector.

Dmitry Ionin highlighted the regional government's efforts in providing optimal conditions for investors and underscored the importance of nurturing local enterprises like IKMZ. The initiative not only promises to enhance the titanium production capacity of Verkhnyaya Salda but also to bolster the economic vitality of the entire region.

Alexey Minochkin, General Director of IKMZ, expressed pride in the project's potential to contribute significantly to the national industry and the socio-economic landscape of the Verkhnyaya Salda municipal district. Meanwhile, Andrey Antipov, General Director of the Titanium Valley SEZ, assured that all necessary resources and infrastructure support would be provided to ensure the project's success.