In September, Ukraine will start a new titanium project

On September 14 the authorities of Zhytomyr region (in the framework of the presentation on the project «Zhytomyr investment») plan to sign an agreement of intent with the company «Sirius» (Kyiv) relative Krapivinskoe Apatite-ilmenite-titanomagnetite Deposit. According to this document, the aforementioned company (along with the Zhytomyr regional state administration) will implement the project for mining and processing of titanium ore: near-mine to be built a large mining and metallurgical plant for the production of titanium. According to Ukrainian media reports, for the construction of the MMC will require substantial investment. We are talking about 2.2 billion U.S. dollars, which will make the owner of the company «Sirius», the businessman Nikolay Shcherbina (known to Ukrainians as a freelance adviser to the former President of Ukraine, Viktor Yushchenko).In addition Krapivinskoe Titan field, on the presentation of the project «Zhytomyr investment» to potential investors will demonstrate a number of investment proposals for the extraction and processing of block stone. As noted in an interview with the Chairman of Zhytomyr regional state administration, Serhiy Ryzhuk, the proposal will be also very interesting for investors. In particular, the business representatives of Italy, Germany and Japan have already expressed willingness to invest in this industry. However, in comparison with the «Titan» project, the property is not on such a large scale: the entire investment portfolio in stone processing is estimated at $200 million.