SIMFEROPOL, Aug. 1 - Ukraine's Cabinet will take "all the necessary steps" to put into practice a plan to set up a state corporation to be called Ukrainsky Tytan (Ukrainian Titanium), Prime Minister Yulia Tymoshenko said on Saturday.

Ukrainsky Tytan would comprise all enterprises that "bear any relation to this big strategic subject," Tymoshenko told a news conference in Simferopol. Ukraine holds "a key place in the world for this kind of resource," she said, according to Interfax-Ukraine.