The State Research Institute ‘Titan Institute’, located in Zaporizhia, was sold at auction for 30.4 million UAH to the Volyn company ‘Novobudenergo’. The buyer was the sole participant in the bidding, which was organized for the third time with the aim of privatizing this strategic facility. In addition to the amount offered by the company, the final cost includes the enterprise’s debt, which exceeds 72 million UAH.
This is reported by Finway
Details of the sale and characteristics of the institute
The sale price turned out to be more than three times lower than the initial valuation. The property complex includes 56 real estate units with a total area of 26,480 square meters and three vehicles. The auction winner is ‘Novobudenergo’, a company that has been operating in the market since 2013 and specializes in the production of construction metal structures and their components. The legal address of the enterprise is located in the city of Lutsk, Volyn region.
History and significance of the ‘Titan Institute’
The ‘Titan Institute’ was founded in August 1956 in Zaporizhia to provide design and engineering support for the first titanium-magnesium plant in Ukraine. Over time, the institute became a leading scientific center in its field. The official website of the enterprise states that it is the only comprehensive research and design institution in Europe in the field of titanium, magnesium, and primary non-ferrous metallurgy production.
The official website of the enterprise states that the ‘Titan Institute’ is the only comprehensive research and design institution in Europe in the field of titanium and magnesium production, as well as primary non-ferrous metallurgy.
In addition, the State Property Fund announced the upcoming sale of another enterprise – ‘Spetsagro’, located in the center of Kyiv. The auction is scheduled for September 12, with a starting price of nearly 5 million UAH. The complex includes 36 real estate and infrastructure units, 11 vehicles, and 27 pieces of equipment, with a total area of the property complex amounting to 10,814 square meters.