Cabinet of Ministers has transferred control over Zaporozhie titanium-magnesium plant to I. Kolomoisky

​The Cabinet of Ministers has approved the signing of the trust agreement for the execution of functions on the management over corporate rights of the country at the volume of 51% of “Zaporozhie titanium-magnesium plant” Ltd with the state enterprise “United mining and chemicals company”, is said in the Government regulation #287-p as of April 4th.

The Government agreed with the suggestions of the National Property Fund approved by the Ministry of Economic Development and Trade on the signing of the trust agreement.

The important provisions of the trust agreement are the following conditions: “United mining and chemicals company” doesn’t have the right to transfer the right to execute the order to the third parties; the trust agreement is signed up to 3 years; “United mining and chemicals company” executes the functions of a representative by the trust agreement for free.

In November 2013 the National Property Fund and Group DF completed the process of foundation of Zaporozhie titanium-magnesium plant Ltd.