Kazakh Kazatomprom plans to join shareholders of Caustic company
Azerbaijan, Baku, Sep. 26 / Trend E. Kosolapova/
Kazakhstan National Atomic Company Kazatomprom is going to become a shareholder of Kazakh Caustic company, Kazenergy association reported with reference to Interfax-Kazakhtan.
The decision on this issue will be taken by late of the year, Caustic Company Board Chairman Erlan Orynbekov told reporters.
"We expect Kazatomprom to buy stake in the company. Currently, Caustic is being evaluated by Kazatomprom," Orynbekov said.
Orynbekov did not specify the stake volume that Kazatomprom claimed for.
Meanwhile, according to Central Asian Power and Energy Company, a 100-percent owner of Caustic, Kazatomprom plans to buy a 40-percent stake in Caustic.
According to Caustic's Board Chairman, the funds received from the deal will be used for development of the company and new technologies in particular. Due to these funds Caustic will be able to avoid loans from commercial banks.
According to Orynbekov, Caustic plans to reach project capacity by the end of 2012. The company's project capacity amounts to 30,000 tons of caustic soda, 26,000 tons of liquid chlorine, 45,000 tons of hydrochloric acid and 6,600 tons of sodium hypochlorite.
"We will increase production of caustic soda and hydrochloric acid demanded greatly in the market," Caustic's Board Chairman said.