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Crimean Titan began to pay off debt and lease Volnogorsk Irshansk plants

After a lack of lease payments for the titanium business for 4 years, JSC «Crimean Titan» made the first transfer of funds to the MFI account. During the operation of integral property complexes Volnogorsk mining and metallurgical and Irshansk Mining and Processing Plant company, controlled by businessman Dmitry Firtash, the State Property Fund owes more than 150 million hryvnia (109.54 million for the 1st of the above assets and nearly 42 million… — in the second). «The first payment amounted to 6.3 mln. Hryvnia. This 1/24 of total debt, as reflected in the settlement agreement between the JSC «Crimean Titan» and SPF, «- said the representatives of the State Property Fund of Ukraine.

The differences between the «Crimean Titan» and exploited IGOK VGMK and the State Property Fund, continued from September 2009 when the lease expired titanium complexes. Tenant demanded the extension of contracts, but the government refused to take this step — in its plans for plants should have been included in the state holding «Titan of Ukraine» assets. The conflict was resolved only in January this year, when the parties signed a «settlement agreement» and the court approved it.

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