“The regime of a free customs zone “Titanium valley”, will take effect from 1 November

Ekaterinburg. 26 Oct. INTERFAX – free customs zone Regime will operate on the territory of special economic zone (SEZ) “Titanium valley” from 1 November, the report said the Ministry of economic development.

SEZ residents will be exempt from VAT and duties on importation into the territory of “Titanium valley” of foreign equipment and raw materials.

The first of residents the procedure of free customs zone is used JSC “Ural Boeing manufacturing” (UBM, SP American Boeing and JSC “Corporation “VSMPO-AVISMA” , produces titanium parts for airplanes) and OOO “SIBus” (the manufacturer of the instrument and implants from titanium for neurosurgical operations).

In November they will start the import of machines and other production equipment.

The company “SIBus” plans to launch production before the end of this year.

SEZ “Titanium valley” was created in 2010 and belongs to the zones of industrial-production type. Currently in the “Titanium valley” was 13 residents.

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