Ulbinsk plant (Kazakhstan) wants to exchange its 34% with a company of RF
/IRBIS, Dec.21, 99/ - REUTERS informs, with the reference to the assistant
of the general director of UMP Sergei Grokhotov, that Ulbinsk metallurgical
plant (UMP) in the East of Kazakhstan plans to exchange its 34 percent of
shares with one of Russian plants, which is also deals with nuclear fuel.
"We are sure the shares will be exchanged with Russian concern TVEL not
later than the first quarter of 2000. Which enterprise is it? We have not
determined yet, whether it will be Novosibirsk plant of chemical concentrates
or will it be Electrostalskii plant or the enterprise in Glazov. It is our 34
percents we are talking about, exchange will be adequate in terms of prices",
said Sergei Grokhotov at the press-conference.
This metallurgical plant was classified enterprise during the soviet era. Its
nick name was "mail box", and it is the biggest producer of nuclear fuel and
beryllium containing and tantalum products. Production volume is not
revealed by the enterprise because of its strategic nature.
Main consumers of uranium pills, which are the fuel for nuclear reactors, are
Russian and Ukrainian enterprises.
"Agreements were made, and both Russian and Kazakhstani governments
gave "the green light". Yes, we are moving towards integration of our shares
in merging with each other, if it can be said so", said Grokhotov.
After the collapse of the Soviet Union and the defense complex the company
is having many problems, among them sharp decline of production, halt of
many workshops, lay-offs, delayed wages. This year was the landmark for
the plant, says the assistant general director.
New ways of getting into the world market are being searched by the plant.
An investment program was presented at Kazatomprom, which owns 90
percent of plant's shares.
Grokhotov named a number of activities to be implemented in 2000. They
are: development and reconstruction of uranium production that uses natural
uranium, and development of beryllium production, environment protection,
modernization and development of waste storage facilities. All these
activities require at least $33 mln.
The plant has not received such investments for a long time. Investment
program is a part of the financial plan, it is real contracts and hence,