Vitaliy Koval visited the Zaporizhzhia Titanium-Magnesium Combine

The Chairman of the State Property Fund of Ukraine, Vitaliy Koval, visited the Zaporizhzhia Titanium-Magnesium Combine (ZTMC).The enterprise is currently in a difficult financial situation but maintains staff and production capacity.

During a working meeting with the management of ZTMC, they discussed ways to solve the problems that hinder the start of production. As Vitaliy Koval noted, one of the tasks of the State Property Fund is to prevent enterprises under management of the Fund from accumulating losses, particularly through ineffective management.

"The Fund operates by making decisions, sometimes unpopular, but always in the interest of the state. Today is the time for internal reserves. It is important to preserve the objects under the management of the State Property Fund so that after privatization, private investors can quickly put them on a successful path," Vitaliy Koval emphasized.

The Zaporizhzhia Titanium-Magnesium Combine is included in the list of objects for large-scale privatization. Currently, the enterprise is not operating at full capacity and is burdened with debts for electricity and unpaid salaries.

However, the State Property Fund managed to partially unlock the deposit payment of ZTMC (51% of shares belong to the state), enabling an additional UAH 18.3 million to be allocated towards clearing salary arrears. Since the beginning of 2023, the combine has paid overUAH 30 million to 1088 employees.