The Ministry of Economy of Ukraine is actively developing cooperation with the United States within the framework of a new agreement on strategic minerals. The head of the ministry, Yulia Svyrydenko, reported that after signing the agreements, Ukraine, together with U.S. Secretary of the Treasury Scott Bessent and the International Development Finance Corporation (DFC), is already working on launching the first investment projects.
This is reported by Business • Media
Key Initiatives in Extraction and Processing
The pilot project of the new investment fund will be the development of the lithium deposit “Dobra” in the Kirovohrad region. This site is of strategic importance for the development of the mineral extraction industry in Ukraine.
In addition, Ukraine has proposed several large-scale initiatives to the American side. Among them is the geological exploration of shelf gas involving the state company “Naftogaz.” The modernization project of the Kremenchuk Oil Refinery, owned by “Ukrnafta” and the largest facility of its kind in the country, is also included in the cooperation.
Modernization of the Kremenchuk Oil Refinery and Security Issues
Yulia Svyrydenko emphasized the importance of modernizing the Kremenchuk Oil Refinery, calling it strategic and profitable for the economy. The project’s cost is estimated at 2.7 billion U.S. dollars, and an application for its consideration has already been submitted to the DFC. In light of regular attacks from Russia on the plant in Kremenchuk, American companies interested in participating in the restoration and modernization of the facility may appeal to the U.S. government for increased support for Ukraine’s air defense.
Kyiv is also offering the American side other projects, including the shelf gas exploration project involving the state-owned “Naftogaz,” as well as the modernization plan for the Kremenchuk Oil Refinery – the largest oil processing facility in the country, owned by “Ukrnafta” and located in the Poltava region. The minister described the refinery project as strategic and profitable.
The Ukrainian government expects that the first three projects within the cooperation with the USA will be implemented within the next 18 months.