Crimea TITAN reimbursed credit given within the framework of the EBRD credit line

Crimea TITAN JSC liquidated the credit in the amount of UAH 15 million. The one-year credit was granted by the "State Export-Import Bank" LLC within the framework of direct line of the European bank of reconstruction and development (EBRD). The annual interest rate was 18%.

The attracted external funds were directed to the reconstruction of sulphuric acid production facilities. Such need arose because of TiO2 (titanium dioxide) production growth and intensified workload of the Ammophos production unit. The goal of the effected reconstruction is to launch the third manufacturing line for sulphuric acid production.

Before the reconstruction two existing lines with total capacity of 30000 tons/month were not in a position to fill the enterprise’s wants for sulphuric acid. Due to this fact, starting from the 2nd half of 2003, the Company had to purchase additional amount of needed acid from external sources. The commissioning of the third line enabled the enterprise to increase the output up to 1500 tons/day in the sulphuric acid production unit. Now the total production capacity of three lines makes 45 000 tons/month, which fully satisfies today's manufacturing requirements...