Holtec sets up JV to develop Ukraine’s mineral resources

22 March 2019

Ukraine’s BGV Group and US-based Holtec International announced they are setting up a joint venture to develop Ukraine’s untapped mineral resources by building a range of mining, processing and manufacturing facilities to help accelerate Ukraine’s industrialisation.

Instead of extracting and exporting minerals, the joint venture envisages using them to make finished products and metal items such as forgings, castings and extrusions in processing plants in Ukraine. The activities of the joint venture are expected to serve a range of industries such as chemical, petrochemical, and energy generation.

Holtec’s principal contribution to the joint venture will be to bring state-of-the-art digital management and control methods, quality assurance and personnel safety programmes to the new mines and processing plants.

Holtec said it emphasises environmentally conscious use of the land and protection of the public health and safety. The BGV Group led by Genaddii Butkevych employs more than 60,000 workers. The joint venture will be incorporated in Delaware and operated under US laws in full compliance with Ukrainian norms and industrial standards. Holtec’s President & CEO, Dr  Kris Singh, said the initiative “accords with Holtec’s aspirations to help Ukraine’s continued industrialisation and creation of well- paying jobs to the country’s citizens”.

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