Kazatomprom (Kazakhstan) may be privatized in 2 years
/IRBIS, March 15, 00/ - REUTERS informs, with the reference to the head of
Kazatomprom Mukhtar Djakishev, that the national atomic company
Kazatomprom may be privatized in year 2001-2002 as it needs a strategic
The head of the company told the prime-minister that it (the company is fully
owned by the government) needed a strategic partner while presenting him
with 1999 results of the company.
He also said the company could grow for another "one or two years" and by
that time its value would increase. Last year investments into the production
reached KZT2.118 bln.
Kazatomprom, which deals in extraction and exporting natural uranium,
production of compounds from the uranium with low concentration, fuel
pellets for nuclear reactors, production of tantalum, beryllium and
hydrofluoric acid, consists of South mining administration, Ulbinsk
metallurgical plant and JSC Volkovgeologya.
The management plans to make the company the third largest producer of
uranium in the world by 2005. Presently, the company is attempting to get
into Korean and Canadian markets with its uranium pellets.
Djakishev said they had sent samples to Korea last year and that they were
waiting for the test results. Another sample was sent to Canada. He says if
the news from these countries is positive the company can receive orders for
100-200 tons from Korea and 800 tons from Canada.
Now, all orders for Ulbinsk metallurgical plant are made by Russian
The president says Kazatomprom receives loans from local and foreign
banks. Another loan from ABN AMRO Kazakhstan at 11% APR is planned.