Minister of Economic Development of the Russian Federation Maxim Reshetnikov paid a working visit to “Pskovsky Zavod “Titan-Polymer” LLC

Maxim Reshetnikov, Minister of Economic Development of the Russian Federation, within the working programme in Pskov region visited "Titan-Polymer" LLC, the plant manufacturing BOPET films with the capacity of up to 72 thousand tonnes per year.

Together with the Governor of Pskov Region Mikhail Vedernikov, he got acquainted with operating production facilities and held a meeting on further development of the site. The project to create a highly integrated industrial complex is being implemented in two stages. At the first stage, BOPET film production was put into operation; this product is the basis for manufacturing food, protective, heat-saving, anti-vandal and colour films.

At the second stage, PET pellet production with a capacity of up to 280,000 tonnes/year is planned to be built; this complex will also be able to produce PBT pellet up to 80,000 tonnes/year and PET pellet up to 140,000 tonnes/year. Total investment in both stages of the project will exceed RUB 22 billion.

During the working meeting, Mikhail Sutyaginsky, Chairman of the Board of Directors of AO GC Titan, presented a plan to expand production capacity and to create on the basis of "Titan-Polymer" an interindustry federal centre for the development and introduction of modern polymer products for various industries.

The product range of the second stage of the Titan-Polymer plant, which includes textile PET, film PET, as well as copolymers and PBT, is expected to be produced as early as 2026.

The plant's products will become raw materials for the production of yarns and films, nonwoven fabrics, engineering plastics, bottle preforms, composite materials based on polyethylene terephthalate, etc.

PBT is a structural shock- and wear-resistant plastic, widely used in mechanical engineering, aircraft industry, electrical engineering and other industries. Despite its wide application, polybutylene terephthalate is not produced in Russia.

Mikhail Sutyaginsky, Chairman of the Board of Directors of AO GC Titan:

"The company is implementing a high-tech production complex on the territory of Pskov region, making it possible to produce a wide range of import substitution products. As a result of implementation of 2 project stages we can cover the demand of the Russian market for film PET, which is also imported. Today polyethylene terephthalate is one of the most demanded polymers, it is consumed by key industries: food, light industry, construction, electrical engineering, shipbuilding".

Minister of Economic Development of the Russian Federation, Maxim Reshetnikov:

"The fact that the enterprise has succeeded is the result of the created system of support measures. It is a special economic zone, which means special tax and customs privileges. The enterprise has concluded an agreement on the protection and promotion of capital investments, which guarantees business conditions and allows the enterprise to build the infrastructure itself. Here are the most modern technologies and very strict quality control. This is an advanced plant not only by Russian standards, but also by world ones".

Governor of Pskov Region, Mikhail Vedernikov:

"Titan-Polymer" is the anchor investor of the Moglino-2 site. Now the second stage of the investment project - PET pellets - is being implemented. It is a very important process that will create industrial co-operation. Quite serious funds are already being invested in this project," Mikhail Vedernikov, Governor of Pskov Region, noted.

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