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Velta group decides to build plant in USA, not in Ukraine or UAE

KYIV. March 31 (Interfax-Ukraine) – The Velta group of companies with assets for the extraction of titanium-containing ores in Novomyrhorod (Kirovograd region) decided to build a plant for the production of titanium products using its own innovative technology in the United States instead of Ukraine and the United Arab Emirates because of the war.

As Velta President Andriy Brodsky said on Facebook on April 2, it has been over two weeks since he returned from a business trip to Washington.

“Before the outbreak of the full-scale war, we, Velta, began to build a pilot plant to manufacture titanium products using our own technology. We have leased industrial premises in Novomoskovsk, started repair and construction work, and purchased equipment. We also received a long-term lease, next to our mining and processing plant, in Novomyrhorod, Kirovohrad region, the territory of a former mine, and began designing a large enterprise. It should have been a new Ukrainian industrial giant. The war stopped everything,” the CEO stated.

According to him, next to the future enterprise, “two Russian missiles stroke, right above our mine, our air defenses shot down another one, there was a threat of a quick breakthrough of the front.”

To “not give high-tech developments to the enemy,” the group decided to create the first enterprise for processing titanium raw materials outside Ukraine. “It was a forced and very difficult decision,” the Velta co-founder said.

At the same time, he said the company had very powerful developments in building an enterprise in the UAE.

But the UAE has taken an incomprehensible position in relation to Ukraine, “the Kadyrov fighters and simply fugitive Russians have created their hub there, and I stopped considering Dubai or Abu Dhabi an attractive harbor,” Brodsky said. He also said that plans for titanium products had to be reformatted: “I still really want to produce purely civilian products. And we will do so. Perhaps, later… Now, the market says quite different things. The world has completely changed with the start of the full-scale war in Ukraine.”

According to Brodsky, it was decided to build an enterprise in the United States, Ukraine’s main and reliable ally in the fight against Russian invaders and a leader in technology and weapons production.