By visiting this site, you accept the use of cookies. More about our cookie policy.
Will call in 30 seconds. Free.

BP Ukraine may beat the competition on the Zaporozhye titanium plant

18 October 2013

As stated in the official outcome of the special control commission of the Verkhovna Rada of Ukraine on privatization, the country's government is recommended to cancel the agreement on transition «Zaporozhye titanium and magnesium plant» under control «Toleksis Trading Limited» Cyprus company (part of the «Group DF» Dmitry Firtash).

About this test result, current affairs on «ZTMC» said spokesman Paul Rizanenko deputy, served as deputy head of the commission mentioned above. «After the privatization in the company» Zaporozhye Titanium-Magnesium Plant «production was not upgraded, as well as volume of primary production was not increased — the titanium sponge, which is used in the aerospace industry," — said in a commentary the Special Commission members. «In addition, to this day have not been met and other conditions of a society," — added the deputies inspect titanium plant. According to representatives of this team, to attract investors are more interested in their own processing ilmenite produced at Irshansky Volnogorsk GOK and MMC in the titanium slag, come true affiliated companies chemical industry than the strategic development «ZTMC». In addition, the price of electricity for the plant is excessive and amounts to about 40% of the cost of the final product. In view of the foregoing, the Cabinet of Ministers was asked to annul the decision on the creation of «ZTMC» and — in the longer term — to re (now transparent) privatization of the plant.

Earlier it was reported that the decision was approved in October last year the Cabinet of Ministers on the establishment of «Zaporozhye Titanium-Magnesium Plant». The state share is obtained by transfer of the business assets to the authorized capital of the organization, it was to be 51%. The State Property Fund had to spend a fair competition to attract private investment. However, in view of the fact that in terms of competition was the point, comprising providing the plant with raw materials of domestic manufacture, the result of it was a foregone conclusion: the winner of «race» — «Group DF» — is on the market of titanium in Ukraine monopoly position.

Recall: «ZTMC» — this is the only European producer of titanium metal in the form of a sponge. The design capacity of 20 th. Tons per year, but in view of a significant deterioration of production capacity, at the moment there is only released 10 th. Tons per year. The current owner of the plant — «Group DF» — is engaged in mining and enrichment of titanium ore («Volnogorskiy MMC», «Irshansky mine», «mine Mezhdurechensk», «Rolls-ilmenite») and produces titanium dioxide (PJSC «Crimean Titan»).

News Archive

Start date
End date

Our consultant will save your time

+7 (962) 383-76-36
E-mail:

Subscription

Special offers and discounts. :)