Firtash to create a joint venture with the state

The Dmitry Firtash’s Group of companies Group DF and the State Property Fund of the Ukraine have completed the creation of Zaporozhye titanium-magnesium plant (ZTMK) on basis of the integral property complex of the state enterprise of the same name.

The State owns 51% in the new enterprise and the investor – 49%.

According to the Group DF’s report, being a participant of the enterprise the group will be able to implement earlier announced plans on full reconstruction and increase of the enterprise’s capacities.

According to the document, the program of ZTMK upgrade provides for the construction of two lines of titanium sponge production (each will produce 20 thousand tons per year) and increase of two lines of titanium slag production from the current 47 thousand to 150 thousand tons per year.