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Russian titanium producer VSMPO-Avisma (MOEX: VSMO) plans to invest around $45 million in the modernisation and expansion of the Demurinsky titanium and zirconium mine, of which it is majority owner, in Ukraine's Dnipropetrovsk region, the region's administration said following a meeting between its head, Gennady Korban, and representatives of the Russian titanium monopoly.


The project could create around 200 jobs.


VSMPO-Avisma also asked the region's authorities to facilitate the extension of the term of the license to develop the Volchanskoye field, in the Vasilkovsky, Mezhevsky and Pokrovsky districts. "Given the social importance of this project, the regional authorities provided support in the resolution of organizational issues," the administration's press office said.


The Demurinsky mine started to operate in 2012.


23 April 2014

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