December 7, 2012 Sverdlovsk Region authorities reconsidered their spending on the special economic zone Titanium Valley. At the moment, this spending amounts to 16.8bn RUR, a half of which is to be allocated from the regional budget, while the other half is to be provided for from the federal funds, Governor Evgeny Kuivashev announced at a briefing today.

‘Out of the 8bn RUR we spend, some 4bn RUR will pay off: these are investments in things like electric mains and heating and power stations. In 13 to 18 years, this will pay off through end user rates. The money for these projects will be borrowed,’ Kuivashev stressed.

The Governor also spoke about the Titanium Valley Project at his meeting with Prime Minister Dmitri Medvedev; the other points touched upon were eliminating the day care shortage, Yekateirnburg’s application for EXPO 2020, and the implementation of the decrees issued by the President in May 2012 as well as the programs on supporting small towns with one primary employer. Medvedev also said that he was going to pay a visit to one such town in Sverdlovsk Region soon.