KYIV. Aug 7 (Interfax-Ukraine) – Ukraine may return to the idea of creating a state-run titanium holding, according to senior adviser to the Economic Development and Trade Minister and leader of the ministry’s State-Owned Enterprises Reform taskforce Adomas Audickas.
“The Economy Ministry is mulling the possibility of setting up a titanium holding company. We haven’t got all the answers to our questions, but we’ll have them soon,” he wrote during an online-conference.
The state-run United Mining and Chemical Company, which owns Irshansk and Vilnohirsk mining and metallurgical mills that produce ilmenite, a raw material for titanium, is now working on its strategy and is preparing for incorporation he said.
“The enterprise will undergo an international audit,” he said.
Speaking about plans concerning Brovary-based metal power plant, he said that the ministry would prefer this enterprise to remain in state ownership.
“The ministry is looking for a new head for this enterprise, which would offer a plan for the company’s development,” Audickas said.
United Mining and Chemical Company started operating in August 2014 when the Ukrainian government decided to transfer the property of Vilnohirsk state mining and metallurgical mill and Irshansk state mining and processing mill to its management.
In January-March 2015, United Mining and Chemical Company made a net profit of UAH 44.866 million.
Until recently, plans to create a titanium holding in Ukraine with the use of state assets were promoted by Group DF, which unites Ukrainian businessman Dmytro Firtash’s assets.
