Azerbaijan, Baku, Nov. 23 / trend E. Kosolapova/
Kazakh National Atomic Company Kazatomprom and TVEL, Fuel Company of Russian Rosatom has signed the key legal documents to implement an alternative form of uranium enrichment center project today, Kazatomprom reported on Friday.
"Shareholder's and option agreements signed today between Kazatomprom and TVEL regulate the procedure of executing the rights of CJSC Uranium enrichment center shareholders, the terms of transferring shares and the management procedure of CJSC Uranium enrichment center, and allow the parties to start closing stage of the project," the company said.
The next stage envisages acquisition of 25 percent shares + 1 share of Ural Electrochemical Plant by Uranium enrichment center. Following the acquisition the joint venture will have an access to enrichment services in the annual volume up to 5 million separative work units.
The parties are planning to start deliveries within the Uranium enrichment center's project of implementing an alternative variant, in the second half of 2013.
TVEL, Fuel Company of Russian State Atomic Energy Corporation Rosatom, is a part of vertically-integrated structure of the Russian nuclear industry. TVEL incorporates business and scientific assets for fuel fabrication, separation-sublimate complex as well as the facilities for manufacturing of gas centrifuges and their equipment.
Kazatomprom is Kazakh national operator for import and export of uranium and its compounds, rare metals, nuclear fuel for nuclear power plants, special equipment, technologies and dual-use materials.
The Company's main activities include geological exploration, uranium production, output of nuclear fuel cycle products, construction of reactors and nuclear power plants, non-ferrous metallurgy and production of construction materials, power industry, science, social welfare and personnel training.
Kazatomprom is one of the top uranium world producers.