Ukrainian entrepreneur Butkevych creates a joint company with American giant Holtec International to develop mineral resources

BGV Group and Holtec International establish a joint venture to develop Ukrainian mineral resources by creating a complex of mining, processing, and production facilities.

They published the corresponding decision on the official website of Holtec International.

As reported, the joint enterprise's efforts will serve a range of fields such as the chemical, petrochemical, and energy industries. Specialized enterprises will offer well-paid jobs for Ukrainian citizens.

It is emphasized that through the joint venture, they will introduce environmentally conscious use of subsoil, healthcare, and safety of the public, which are important components of Holtec's global operations.

BGV Group companies are managed by a leading Ukrainian industrialist and entrepreneur Hennadiy Butkevych. He is one of the largest taxpayers in the country and has created over 60,000 jobs. Joining Holtec is in line with Butkevych's strategic goal of introducing western technologies and world-class management practices in his country, the statement said.

The owner of the Ukrainian BGV Group Hennadiy Butkevych said: "Instead of just extracting and exporting mineral resources, our joint enterprise intends their use for manufacturing products in Ukraine. It'll create a vertically integrated industrial infrastructure allowing our country to move along the path of value-added activity."

Holtec International is a global supplier of equipment and systems for the energy industry. The company's headquarters are in Camden, New Jersey (USA). The company specializes in designing and manufacturing nuclear reactor parts.

As reported, Holtec's major contribution to the joint venture will be modern digital management and control methods, quality assurance, and personnel safety programs for new mines and processing plants.

They will register the joint enterprise in Delaware. It'll run under US laws in full compliance with Ukrainian regulations and industrial standards. Holtec President and CEO Dr. Chris Singh said, "This initiative is in line with Holtec's ambition to help Ukraine continue to industrialize and create well-paid jobs."