Omsky kauchuk
petrochemical production
Titan-SM
production of lubricants
Titan-Polymer
polymer production
project
Titan-Agro
mixed feed and meat
production
15 January 2019
“Pskovsky Zavod “Titan-Polymer” LLC was registered on February 14, 2018 to implement a project for the production of PET granules and products based on them (BOPET films).
"The area represents a 90% brownfield site. We are sure that the project will be a success. Today, we signed contracts for two production lines, advance payments were made and delivery dates approved," commented M. Sutyaginsky on the degree of project readiness.
Feedstock for the plant will be purchased in Kazan and Nizhnekamsk. "If the Russian feedstock turns out to be inappropriate, we shall import foreign feedstock," said the Head of the Group of Companies “Titan”.
"The first production line will (be ready) in June 2020. According to the business plan, we shall reach the design capacity in six months. In principle, thereafter the plant should begin to generate profit," said M. Sutyaginsky.
The investment project "Titan-Polymer" will be implemented in four stages. Within the first stage, two lines for the production of biaxially oriented polyethylene terephthalate film (BOPET) with capacity of up to 70,000 tons per year are slated to be created. In the future, the company plans to arrange a large industrial complex for the production of polyethylene terephthalate (PET) in the amount of up to 170,000 tons per year.
About 500 new jobs will be created at “Titan-Polymer” plant in Pskov with a view to increasing this number up to 2,000 at the cost of the related industries.
Total investment in the project is estimated at 19 billion rubles, of which 20% will be equity capital. A part of financial resources will be provided through a loan granted by Industrial Development Fund, and funds from the Russian Export Center and other development institutions. About 13 billion rubles of investments will be required to start up the production of PETF and BOPET films.
The project will be implemented in the territory of Moglino SEZ. "Our production facility will be built in Pskov region. It will make a significant contribution to the development of the region’s economy and will give an impetus to the development of small and medium-size businesses," said earlier German Petrushko, Director of the enterprise.
Today, the Group of Companies “Titan” includes the PJSC “Omsky kauchuk”, “Poliom”, Ltd (a joint venture with SIBUR and Gazprom Neft), “Titan-Agro” Ltd, and a number of other agricultural, transport and construction assets.
Source: Rupec.ru of 15.01.2019 08:47:00
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