OREANDA-NEWS. On February 12 the production site of VSMPO-AVISMA Corporation was visited by Andrey Sokolov, Director, Department of Special Economic Zones and Projects of Regional Development, Ministry of Economic Development of the Russian Federation.

The major purpose of his visit was to evaluate construction project status of special economic zone Titanium Valley: "Government of the Russian Federation decided to participate in federal funding of SEZ “Titanium Valley”. We came here to evaluate the relevancy of SEZ objects and to synchronize them with the plans of potential residents", - explained A. Sokolov.

Having visited VSMPO shops, A. Sokolov took a favorable view of both Corporation's efforts to modernize production and possibilities to place machining facilities in special economic zone: "The facility planned to be placed in SEZ Titanium Valley will start here at VSMPO - supplier of primary products and components… Everything I managed to see here is very positive. You have really advanced production with a great volume of investment, moreover you keep to upgrade it".

Andrey Sokolov was very interested in five-year cooperation of VSMPO and The Boeing Company. These companies created a joint venture Ural Boeing Manufacturing (UBM), for semifinish machining of parts for Boeing programs: "Today we observed the work of JV and this experience is sure to be positive".

Operational Experience of Russian-American joint venture was also discussed during the meeting, which took place at SEZ Titanium Valley.

Alexey Mindlin, Deputy Director General, informed the participants of the meeting of VSMPO-AVISMA Corporation plans concerning realization of different projects in SEZ Titanium Valley including joint project, created together with foreign companies: "Judging by the current and the forecasted market situation it was right for Corporation to choose a strategy for development of conversion capacities. And it comes in handy that conditions for support of investment in real sector are being created in Russian Federation. At the moment VSMPO-AVISMA Corporation registered one resident to be placed in SEZ Titanium Valley. This enterprise will perform machining of forgings. It isn't decided yet, whether this will be a joint venture with one of our partners or this will be only our asset. But technical parameters of this project are almost determined and volume of investments will comprise at least USD 100 Mio. Together with Titanium Valley Management Company we developed the project implementation schedule, which seems to be rather tight, but still realistic. Due to constructive co-operation with Managemrnt Company we have decided almost all administrative and financial issues concerning to the project. We are going to start engineering and construction of the complex at the earliest possible date".