Velta Group of Companies with titanium ore mining assets in Novomirgorod (Kirovograd Region) decided to build a plant to produce titanium products using its own innovative technology in the United States instead of Ukraine and the UAE because of the war.
The company’s president, Andrei Brodsky, said on Facebook on Sunday that it has been more than two weeks since he returned from a business trip to Washington, D.C.
“Before the full-scale war began, we, VELTA, were starting to build a pilot plant to make titanium products using our own technology. We obtained a lease on an industrial facility in Novomoskovsk, began repair and construction work and the purchase of equipment. We also received a long-term lease on the territory of a former mine next to our mining and processing facility in Novomirgorod in Kirovograd region and began designing a large enterprise. It has to be a new Ukrainian industrial giant. Everything was stopped by the war”, stated the CEO.
According to him, near the future enterprise “two Russian missiles flew in, right above our mine our air defense shot down another one, there was a threat of a quick breakthrough front”.
In order “not to give high-tech developments to the enemy,” they decided to create the first enterprise for the processing of titanium raw materials outside of Ukraine. “It was a forced and very difficult decision,” said the co-founder of VELTA.
At the same time, he noted that the company had very strong ideas to build an enterprise in the UAE.
But the UAE has taken an unclear position with regard to Ukraine, “Kadyrovites and simply fugitive Russians have created their own almost hub there, and I stopped to consider Dubai or Abu Dhabi as an attractive haven,” Brodsky said. He also noted that he had to reformat his plans concerning titanium products: “Even now I really want to produce purely civilian products. And we are going to do that. Perhaps later… Now the market says completely different things. The world has completely changed with the start of a full-scale war in Ukraine.
According to Brodsky, it was decided to build the company in the United States, which is Ukraine’s main and reliable ally in the fight against Russian invaders and also the leading leader in technology and weapons production.
PKF VELTA LLC was registered in April 2000. The main activity is the extraction and production of ilmenite concentrate.
VELTA Holding LLC owns 100% of PKF VELTA LLC. The ultimate beneficiaries are three individuals: Andrey Brodsky (60%), Vadim Moskalenko (20%) and Vitaly Malakhov (20%).
