AREVA and Kazatomprom establish JV in front-end nuclear cycle
Azerbaijan, Baku, Oct. 28 / Trend S. Suleymanov /
In Paris during the official visit of Nursultan Nazarbayev, the President of Kazakhstan to France, Anne Lauvergeon, AREVA CEO, and Vladimir Shkolnik, KAZATOMPROM Chairman of the Board, have signed an agreement for establishment of a fuel fabrication joint-venture.
This new agreement emphasizes the intention of both companies to strengthen their strategic partnership in the field of front-end nuclear cycle.
The new company owned 51 percent by Kazatomprom and 49 percent by AREVA, is to build a new fuel assembly manufacturing line based on the AREVA design for the Ulba facility, located in Ust-Kamenogorsk in the East of Kazakhstan. The new plant with 400-ton annual capacity is scheduled to start operating in 2014.
After the ceremony of signing Anne Lauvergeon has noted: "This agreement demonstrates AREVA's strategy aimed at insuring reliability of supplies for the clients and strengthening of our position in the global fuel market.
Vladimir Shkolnik pointed out: "Kazatomprom is consistent with implementation of its program to build up a vertically integrated company with complete nuclear fuel cycle, and this agreement with AREVA is another important step in implementation of this strategy".
KAZATOMPROM is a national operator of the Republic of Kazakhstan 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. At present, over 26,000 people are employed by the Company. Kazatomprom is one of the top uranium world producers.