“The structure of Praxair are unable to challenge the termination of her resident status of the SEZ “Titanium valley”

Ekaterinburg. 26 Oct. INTERFAX, “Praxair Titanium valley” failed to challenge the trial court’s decision on deprivation of the status of resident of special economic zone (SEZ) “Titanium valley” and the imposition of a fine of 5 million rubles. This is stated in the materials of the Seventeenth arbitration appeal court (Perm).

The press service of the management company “Titanium valley”, speaking in the third person, “Interfax” specified that “Praxair Titanium valley” has become the first company in the SEZ, which will be terminated as a tripartite agreement.

As reported, the Arbitration court of Sverdlovsk region in July upheld the claim of the Ministry of economic development of the Russian Federation on the termination of the agreement with “Praxair Titanium valley”. Thus, the company lost the right to conduct industrial-production activity in the SEZ, as it was fined in the amount of 5 million rubles.

The resident attempted to appeal the decision, putting in the complaint to “improper performance by the claimant of obligations under the agreement relating to the supervision and control over the activities of a third party that affect the delay performance of obligations by a third party for more than three years.” The applicant noted that these circumstances have affected the functioning of the resident enterprises.

Meanwhile, the court records that “Titanium valley” has repeatedly asked the defendant a proposal to change the terms of the agreement, an adjustment to the business plan, but by the resident of any actions has not followed. In this case, “Praxair Titanium valley” has not provided the court evidence that informed the plaintiff about the impossibility to fulfill the obligations because of the actions of the SEZ.

“Guide “Praxair Titanium valley” explains the inhibition of the draft change in the market, because of which the demand for products in the Sverdlovsk region is missing. In this regard, the resident will not be able to provide the necessary loading station, planned for construction in the SEZ,” said a representative of the management company “Titanium valley”.

Until September 2017 leadership “prakseha Rus” was considered an alternative way of working in the “Titanium valley” without resident status, but all attempts were unsuccessful.

As reported, “Praxair Titanium valley” received the status of a resident in June 2013. Until 2017, the company planned to invest 235 million rubles in the construction of a high-tech station for filling containers of industrial and special gases (the initiator of the project LLC “Praxia Rus”, included in the group Praxair). The actual volume of investments was less than 860 thousand rubles.

At the moment the Ministry of economic development is trying to terminate the agreement on conducting industrial activities with three other residents – “Syneresis”, “Ural optical plant” and “Stroydizel-Composite”.

“Titanium valley” is one of ten SEZ of industrial type in Russia. Priority sectors – manufacture of articles of titanium, manufacture of components and equipment for metallurgy, oil and gas engineering, aerospace and the aviation industry, the manufacture of medical products, building materials. Currently have Titanium valley 13 residents.

The company “Rus Praxia” (owner of 99% of “Praxair Titanium valley”) is a division of the American Corporation Praxair Inc., major world producer of industrial gases.

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