President of Russia Vladimir Putin has congratulated the company on launching Titan-Polymer plant

The enterprise is finishing the implementation the first stage of an investment project to produce an import-substituting product – BOPET film production with a capacity of up to 72 000 tons per year.

Vladimir Putin held the opening ceremony of the new enterprise via a video conference. The Minister of Industry and Trade of the Russian Federation Denis Manturov, the Governor of Pskov region Mikhail Vedernikov and the Chairman of the Board of Directors of AO GC Titan Mikhail Sutyaginsky also took part in it.

"I want to emphasize that the Government will support the creation of such enterprises. We need them for the dynamic development of the economy, to increase production of our own high-quality products. We will continue to promote the development of modern, high-tech companies across the country, and we will create the most comfortable conditions for investors to work," the President said.

Mikhail Sutyaginsky told the head of the state about technological process, as well as about the prospective development of the industrial site.

"This is only part of a comprehensive investment project. We intend to implement the entire project by 2025. The second stage is polyethylene terephthalate production. This will create a polyester raw material base, provide import substitution of a large range of products, including medical and food products. This will make it possible to minimize Russia's dependence on imported polymer materials, which is especially important in the current circumstances, " Mikhail Sutyaginsky noted.

Mikhail Vedernikov, the Governor of the Pskov region, pointed out that the launch of the plant was an important event for the entire region. "First of all, it includes lots of investments. 10 bln rubbles have already been invested. This number will double once the second stage is launched. There are high-performance jobs. In the future we are going to create an industrial technology park here and develop related industries. It will make it possible to include small and medium-sized business into production cooperation as well as to create about 2 000 jobs.

The creation of the new plant became possible thanks to the support of the Export Insurance Agency of the Russian Federation, the Ministry of Industry and Trade of Russia and the Industry Development Foundation of the Russian Federation, which provided the company with a total of 3 billion rubles in the form of loans for BOPET film and PET pellets production, as well as the Government of the Pskov region and Gazprombank.

As of December 2022, the company created more than 270 jobs. After the launch of BOPET film production, the average salary of employees will be more than 50 thousand rubles.

It should be noted that BOPET films are widely used all over the world, first of all in the food industry, in the production of flexible packaging. Medicine needs BOPET films (X-ray films, implants, tubes), industry needs them too (film for windows, car windows, etc.). When the plant reaches its designed capacity (72 thousand tons of production per year) Titan-Polymer will fully satisfy the needs of domestic producers in BOPET-films.

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