An agreement on the transfer of management authority over the special economic zone located next to Verkhnyaya Salda from the Russian Economic Development Ministry to OAO Titanium Valley Special Economic Zone was signed in Moscow. The signing of the agreement resulted from the changes made in the Russian law: on January 1, 2012, the amendments to the special economic zones legislation came into effect and made it obligatory for the management companies to assume more power and perform more functions.

The agreement was signed by Deputy Minister Oleg Savelyev on behalf of the Russian Economic Development Ministry and by Director-General Artemy Krylasov on behalf of OAO Titanium Valley Special Economic Zone.