President of Ukraine wants to create titanium company

In a brief interview with reporters in Sumy, Victor Yushchenko said it was necessary to create a vertically integrated titanium company, the president press office reported.

“I am convinced Ukraine needs this company, for there is a growing demand for titanium and our country has great resources,” he remarked.

The President said the government should find ways torationally use natural resources and develop the titanium industry. The Chief of State reiterated that the subject had been regularly broached since 2005 and would be discussed again at a meeting on problems of the chemical industry at the State Secretariat.

“I am convinced what we dois right, and this project will eventually be carried out,” he said.

In 2005, Victor Yushchenkosigned a Decree on the Stimulation of Titanium Dioxide and Ilmenite Ore Production.