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11:57
OSTCHEM GROUP INTERESTED IN BUYING STATE STAKE IN CRIMEA TITAN, OSTCHEM GERMANY DIRECTOR SAYS

Kyiv, August 4 (Interfax-Ukraine) - OstChem Group in interested in the purchase of the state stake in CJSC Crimea TITAN (Armiansk, Crimea), OstChem Germany GmbH Director General Matthaus Ebinal has said in an interview with the Ekonomicheskiye Izvestiya newspaper.

"We are still interested in the purchase and development of Ukraine's ore-dressing enterprises producing titanic iron ore concentrate and the state stake in CJSC Crimea TITAN," he said.

Speaking about the development of Crimea TITAN, Ebinal said that annually Crimea TITAN spends UAH 100-150 million on technical reequipment.

Speaking about the state of the enterprise, he expressed anxiety about the UAH 100 million debts for VAT reimbursement owed to Crimea TITAN.

"Just imagine what it means for the enterprise when 80% of its produce is exported! It means that every month we transfer export VAT to the budget with none of it returned. Therefore every month the company's working capital is falling," Ebinal said.

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