KIEV, Sept. 7 - Sirius, a private Ukrainian company, plans to invest $2.2 billion in a project to build a mining and metallurgical plant to develop the Kropyvenske titanium-apatite deposit in Zhytomyr region.

Zhytomyr region is like a "Ukrainian Ural," Serhiy Ryzhuk, the head of the regional administration, said at a press conference at Interfax-Ukraine on Tuesday.

"We have decided on the most ambitious project to build a mining and metallurgical plant, with a total cost of $2.2 billion. This is a colossal project," Ryzhuk said.