Neqsol Holding, which in 2024 bought the United Mining and Chemical Company for almost UAH 4 billion, announced its intention to invest in the enterprise sums that significantly exceed the UAH 400 million set by the privatization agreement. The statements were made by Neqsol Holding Ukraine regional director Volodymyr Lavrenchuk.
Neqsol's investment plans
The investor has formed a three-tier strategy: update the corporate governance system, expand the resource base, and gradually shift from raw-material extraction to deep processing of titanium products. Implementing this course will require additional investments beyond the initial privatization commitments.
This implies significantly more investment than UAH 400 million under the terms of the privatization
— Volodymyr Lavrenchuk
Neqsol is fundamentally not a portfolio investor but a long-term investor. It is not the kind of company that buys and sells its assets. Throughout the holding's existence we have not sold a single asset. It is always an investment in a long-term project
— Volodymyr Lavrenchuk
Conditions for implementing the project
Details on technological modernization and the scale of deep processing will become known upon completion of the first stage of the transformation. It is precisely after improving corporate governance and the transparency of financial reporting that the company expects to attract international partners.
Neqsol will focus on cooperation with partners from the United States and European Union countries.
About the United Mining and Chemical Company and its branches
The United Mining and Chemical Company is among the world's leading producers of titanium raw materials and leads production of ilmenite, rutile and zircon concentrates in Ukraine and Europe.
- The enterprise has two main branches: the Vilnohirsk Mining and Metallurgical Plant (Malyshevske deposit, Dnipropetrovsk region) and the Irshansk Mining and Processing Plant (Mezhyrychne deposit, Zhytomyr region).
- According to the previous management's assessment, the Vilnohirsk plant can operate in its usual mode until approximately 2030, whereas the Irshansk plant has a resource outlook of at least 15 years.
