VTB has agreed to finance the production of titanium products

Isetsky Forging and Mechanical Plant will build new production lines and increase the capacity of the enterprise, which will increase the production of titanium blanks to 1 thousand tons of finished products per year. The project is financed in the amount of 350 million rubles by VTB.

The bank will provide funds to the plant, which is a resident of the Titanium Valley special economic zone, on preferential terms within the framework of the state support programs "Industrial Mortgage" and "Preferential Lending Program for SMEs". According to VTB, the funds raised will allow the company "not only to increase production capacity, but also to strengthen its position in the market of high-tech materials in demand in the aviation and space industries."

According to Ruslan Eremenko, a member of the VTB Management Board, the partnership with the plant within the framework of industrial mortgage and preferential lending programs confirms the bank's commitment to the development of domestic production and innovative technologies. "VTB creates financial conditions that allow enterprises to effectively scale production and increase their competitiveness," he said.

In turn, Nikolay Kovyazin, Deputy General Director of the Isetsky Forging and Mechanical Plant, pointed out that the construction of additional production facilities represents an important stage in the development and modernization of the enterprise. The increase in output "meets the growing demand from the aviation and space industries," he stressed.

"The combination of government support measures creates favorable conditions for the implementation of large—scale projects and the introduction of advanced technologies," Kovyazin added. "Cooperation with VTB allows us to strengthen our position in the market of high—tech materials and is a driver of sustainable production growth."