December 19, 2013. The special economic zone Titanium Valley, located in Sverdlovsk Region, will be allocated 4.8bn RUR from the federal budget in 2015-2017. The zone will also be given at least 4.7bn RUR from Sverdlovsk Region’s budget and non-budget sources, the Titanium Valley’s press release says. The decree that confirms the allocation of funds has not been published on the government website yet.

The 4.8bn RUR worth of federal budget funds will be allocated to the construction of the infrastructure facilities in the Titanium Valley in 2015-2017 under the Russian Federation Government Decree 1178 dated December 17, 2013. The special economic zone will receive at least 4.7bn RUR from Sverdlovsk Region’s budget and non-budget funds by 2017. The money will be directed to building the engineering, transport, social, innovative, and other infrastructure facilities in the area.

The Russian Federation Government’s decree will mean the Titanium Valley can apply for federal co-funding in 2014, which will speed up the construction and commissioning process considerably, says the Titanium Valley’s Director-General Artemiy Kyzlasov.