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11:57
OSTCHEM GERMANY DIRECTOR GENERAL SAYS SULFURIC ACID PRODUCTION AT CRIMEA TITAN COULD BE LAUNCHED IN Q1, 2011

Kyiv, August 4 (Interfax-Ukraine) - OstChem Germany GmbH (Germany) Director General Matthaus Ebinal says his company could launch a sulfuric acid production at CJSC Crimea TITAN (Armiansk, Crimea) in January to March 2011.

Earlier, the press service of OstChem Ukraine (Kyiv) said the production would be launched by late 2011.

"If contractors, banks and both shareholders work to coordinate their actions, a new plant will be opened in the first quarter of 2011," Matthaus Ebinal said in an interview with the Ekonomicheskiye Izvestiya newspaper.

Ebinal said that the shareholders of Crimea TITAN entered the foreign capital market to complete construction and "have received preliminary agreement from another two banks in the European Union, including a German bank, for credits of about EUR 23 million."

Ebinal said that the new plant is a new energy-efficient facility using German technologies, and as a result of applying these technologies, the cost of making Crimea TITAN major products (titanium dioxide) will be reduced.
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