23 September 2020
Gazprombank highly appreciated the Titan-Polymer Plant construction progress
On Tuesday, September 22nd, Aleksey Belous, Deputy Chairman of the Board of the Gazprombank JSC was in Pskov with a working visit. The objective of his visit was to become familiar with the progress of the Titan-Polymer project in the Moglino Special Economic Zone.
Together with Mikhail Sutyaginsky, Chairman of the Board of Directors of the AO GC Titan he visited the plant’s construction site. As a result of the excursion, Mikhail Sutyaginsky, Chairman of the Board of Directors of the AO GC Titan announced that that was a sufficiently large-scale project, which required huge capital investments.
“We are impressed with what we have seen. The company knows how to build, commission and operate. It has necessary potential to implement large-scale projects: personnel, equipment, knowledge and experience. This is not our first joint project. The GC Titan was always distinguished by high quality of work and project implementation before the deadline,” said Alexey Belous.
“We are grateful to Gazprombank and its management for the support of the proposed project,” Mikhail Sutyaginsky thanked the Chairman of the Board of the credit institution. The Chairman of the Board of Directors of the AO GC Titan emphasized that Gazprombank is currently considered the leader in the Russian Federation in the field of the project financing organization.
“We are very pleased that we have received from the leader a high assessment and approval for obtaining a credit line, which will definitely have a positive effect on the region’s development and, above all, on the increase in jobs,” remarked Mikhail Sutyaginsky. According to him, highly qualified personnel will “create a new history here” in the field of production.
Products for food purposes, light industry and other trends will be manufactured here, reminded the Chairman of the Board of Directors of the AO GC Titan. “For microelectronics, for example. And these processes require a certain purity degree,” he said and focused on the fact that the plant’s personnel will be provided with all necessary personal protective equipment (work in overalls, caps and shoe covers).
Mikhail Sutyaginsky clarified that the best technologies would be implemented at this complex, and the plant’s productivity would reach the European level. “This speaks about the salary level that will be here, and about the amount of taxes as well, that will be received by the region,” added Mikhail Sutyaginsky.
We remind that in August this year Gazprombank and Titan-Polymer Ltd (is included in Group of companies Titan) signed a Financing Agreement for the construction in Pskov region of the biaxially oriented polyethylene terephthalate film (BOPET) production plant with a capacity of up to 72 thousand tons per year and polyethylene terephthalate (PET) pellet production plant with a capacity of up to 210 thousand tons per year.
