3 October 2022

Launch of Titan-Polymer plant will attract 17.6 billion rubles of investments

Authorities of the Pskov region expect that the project implementation will attract about 17.6 billion rubles of private investments after the launch of the plant. In addition, there are plans to create more than 500 workplaces, as Vice-Governor Ninel Salagaeva told reporters on Wednesday. 

Titan-Polymer plant which produces PETP (polyethylene terephthalate) pellets is one of the anchor companies of the Moglino SEZ. The production is unique for Russia as it makes it possible to manufacture an unlimited number of polymer types and provide the country with raw materials which are currently imported from abroad. After the launch the plant will become the fifth in Russia to produce polymers.

“This high-volume investment project is the largest project of the SEZ. We expect that the project implementation will attract private investment of at least 17 billion 600 million rubles. In addition, we expect that a large number of workplaces (more than 500) will be created in the region,” Ninel Salagaeva said.

She also added that authorities of the region expected that the project implementation will include the creation of new production facilities which will use the products of Titan-Polymer. These include manufacturers of food and non-food packaging, solar panels and insulation materials.

"Today Titan-Polymer plant cooperates with more than 200 Pskov companies. First of all, these are transport and logistics, security companies, catering companies, construction companies," Ninel Salagaeva added.

In early June the governor of the Pskov region Mikhail Vedernikov, reporting at the Pskov regional assembly on the results of the region administration activity, said that in the Moglino SEZ the actual volume of investments in resident projects at the end of last year amounted to 11.2 billion rubles. 287 workplaces were created. At that time the head of the region noted that there were plans to launch BOPET film production at Titan-Polymer in 2022. 

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