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Russian Ministry of Finance has verified Titanium Valley

With the change of government in the Sverdlovsk Region in the Ministry of Finance of the Russian Federation, a number of questions to the former leaders of the project a special economic zone Titanium Valley. In the last week agency staff have completed an unscheduled inspection by representatives KRSU budget expenditures (Development Corporation of the Middle Urals), carried out the distribution of finances on SEZ needs. After analyzing the results of the Ministry of Finance audit, experts recognize that the effectiveness of resource allocation corporation raises serious doubts: in the Titanium Valley already spent hundreds of millions of rubles, however, investors do not found, the construction work at the site is not carried out, the project documentation is not fully prepared.

The audit showed that the previous management of the project has spent on advertising and PR Titanium Valley about 17 million. Rubles (this budget line include the cost of manufacturing and printing advertisements, participation in fairs, the costs of carrying out of presentations and other purposes). However, marketing efforts could not significantly affect the dynamics of attracting new residents to the SEZ. Procedure 115 million. KRSU paid for the design of the territory of Titanium Valley, as well as for the creation and approval of the project engineering services and transport infrastructure «special zone». But this work, according to the audit opinion, was not performed until the end. In addition, the audit revealed voluminous costs of protecting the territory of Titanium Valley (while the facility had no building materials or equipment, no other material assets) and for the maintenance of 20 full-time employees not working with SEZ «immodest» wages.

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