SIMFEROPOL, Oct. 31 – Dmytro Firtash, co-owner of Crimea Titan (Armiansk, Crimea), plans to invest around $220-$250 million to construct a third plant for titanium dioxide production.

Construction of the new plant will allow Crimea Titan to increase titanium dioxide production to 200,000 tons per year, Firtash told journalists.

The Crimean government has agreed to the construction of the new plant. "The Crimean government gave the go-ahead for it. I think that toward the end of the month the government will adopt the appropriate resolution, and we will receive permission and begin construction," Firtash said.