VSMPO-Avisma Might Back Out of Titanium Valley

VSMPO-Avisma Corporation might give up on its plans to build a plant for the mechanical processing of stampings for the aviation industry in Titanium Valley, a special economic zone, in case the infrastructure in the area fails to appear quickly enough.

The corporation’s Director-General Mikhail Voyevodin said in an interview to company newspaper Novator that so far, the company had only got the Titanium Valley Supervisory Board’s approval of a business plan for setting up a daughter enterprise (VSMPO-New Technologies) there. The enterprise would have a resident status.

Given that the corporation will feel the need for additional mechanical processing facilities by a certain date, we cannot afford to wait for too long. If the preparation work in the zone drags on, we will have to start the construction of the facility to house the stamping processing machines on the premises of our corporation,’ Interfax-Ural quotes Voyevodin as saying in his interview.

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