4 October 2023
Maxim Reshetnikov, the Russian Economic Development Minister, visited the Titan-Polymer plant in Pskov
The Minister of Economic Development of the Russian Federation - Maxim Reshetnikov visited the Titan-Polymer plant in the Pskov city
Along with the Governor Mikhail Vedernikov, the Minister made a visit to the Titan-Polymer plant, the launch of the plant took place in December last year with the President's participation. Nowadays it is the Anchor Enterprise of the Industrial Cluster of the Special Economic Zone "Moglino". The plant produces BOPET film. Anastasia Nikolaeva tells us about the national government's support for such import-substituting industries and the plant's development agenda.
- The railroad needs to be done, the wastewater treatment plant has to be done, this particular high energy side we're waiting for it.
The Management of the plant shares its ambitious plans for the plant's development with the Minister. By 2026 it is intended to start producing the second phase of the Titan-Polymer plant's product line, which includes textile PET, film PET, as well as co-polymers and PBT. The plant's products will become raw materials for the manufacturing of fibers and films, nonwoven fabrics, engineering plastics, bottle preforms, and composite materials using polyethylene terephthalate. No production in Russia at all for the time being.
"It will create a quite significant industrial cooperation, rather substantial funds are already being invested in this project and for many types of products there will be such a major import substitution in the country as a whole," – noted Mikhail Vedernikov, the Governor of the Pskov region.
"It will be such a vertical holding Company, which will sustain its first priority - the production of the necessary raw materials for further processing in the form of pellets (chips) for converting them into the film, which is the first level of our production at the moment. The film itself has quite a few different purposes," - Mikhail Sutyaginsky, the Chairman of the Directors' Board of the Titan Group of Companies.
The film, which is resistant to mechanical impacts, low temperatures, gas-tight and eco-friendly, is quickly distributed among enterprises in Russia and the CIS, and is used in medicine, electrical engineering, packaging, and construction materials. For the country such direct import substitution production is more significant than ever, the Minister noted, the Government provides all kinds of support measures.
"First of all, here is the Special Economic Zone, respectively here are tax and customs privileges, secondly, this company has signed the investment protection and promotion Agreement, which allows to guarantee the conditions for doing business and enables the company to build the infrastructure itself, and then reduce future taxes and accordingly refund the money," - Maxim Reshetnikov, the Minister of Economic Development of the Russian Federation.
The total volume of investments is about thirty billion, the number of new jobs is almost two thousand, and today half of the plans have already been implemented. But there are still a lot of plans for the development of the nationally important production.
Anastasia Nikolaeva, Maxim Lebedev. Vesti-Pskov
