VELTA HOLDING US INC. signed a trilateral Memorandum of Understanding with the UAE-based ABU DHABI PORTS subsidiary KIZAD, and a private financial institution to attract investments for the construction of a plant for titanium goods production based on company’s own innovative technology in the UAE.
VELTA HOLDING US INC. though its subsidiaries in Ukraine owns a titanium ore mining and processing complex in Ukraine. In 2020/21, the company obtained two patents for a revolutionary new technology for titanium metal and alloys production, which reduces their cost fourfold and generates zero waste. Since 2009, the UAE has followed its national policy of reducing the country’s economic dependency on oil production and exports. The government of the United Arab Emirates is known to support futuristic technology projects and provide them with high-quality infrastructure.
“KIZAD, which is subsidiary of the Abu Dhabi Ports, is a key destination for attracting new businesses, as the UAE government is a front runner when it comes to promoting and embracing innovative technologies,” said Andriy Brodskyy, Velta CEO and key shareholder, upon signing the MOU.
“We welcome Velta Holding’s decision to invest and open a major titanium production facility in the heart of KIZAD’s flourishing Metals Cluster, which today is home to some of the world’s leading manufacturers of metal products. KIZAD will work closely with Velta to cater to its unique needs within the region, and to enable its expansion to new and untapped markets,” said Samir Chaturvedi, CEO of KIZAD.
The MOU marks the intent of KIZAD and Velta to enter into a strategic partnership to adopt the in-house technology developed in Ukraine by Velta’s subsidiary and to build the first fully integrated production plant, from feedstock to final titanium goods, in KIZAD. The MOU is viewed with great interest by some of the institutional investors in the UAE, who are keen to make investments in non-ferrous metal projects in the UAE.
VELTA HOLDING US Inc. owns the Ukrainian company Velta LLC, which in turn owns two resource assets – the Likarivske and Birzulivske deposits. For the past 11 years, the latter has been serving as the basis of titanium feedstock mining and processing complex. Velta holds 2% of the global market share for titanium raw materials and is an export-oriented company. The holding also includes the Velta RD Titan research center, which developed and patented an innovative technology for titanium metal production in 2020, and for titanium alloys production in 2021.
About Abu Dhabi Ports
Established in 2006, Abu Dhabi Ports is a global trade enabler strategically based in the capital of the United Arab Emirates is part of ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy. Abu Dhabi Ports is the region’s premier facilitator of logistics, transport, and trade, bridging Abu Dhabi with the world. Abu Dhabi Ports owns and manages 11 ports and terminals in the UAE and Guinea.
Abu Dhabi Ports’ largest subsidiary is Khalifa Industrial Zone Abu Dhabi (KIZAD), the integrated trade, logistics, and industrial hub, with the flagship, deep water Khalifa Port as its maritime gateway.
Additional subsidiaries of Abu Dhabi Ports include: Abu Dhabi Marine Services (SAFEEN), Maqta Gateway, MICCO, Abu Dhabi Maritime Academy, Abu Dhabi Terminals (ADT), Abu Dhabi Cruise Terminal, Fujairah Terminals and ZonesCorp.
About KIZAD
Established in 2010 and operational since 2012, Khalifa Industrial Zone Abu Dhabi (KIZAD) is a subsidiary of Abu Dhabi Ports, under its Industrial Cities and Free Zones portfolio. Strategically located between Abu Dhabi and Dubai – with the deep-water Khalifa Port as its maritime gateway – KIZAD is Abu Dhabi’s integrated trade, logistics and industrial hub facilitating sustainable growth in metals, polymers, food, automotive, water and oil and gas. KIZAD is one of the world’s largest industrial zones, spanning across 410 square kilometers.
For more information, please visit: kizad.ae