Two foreign companies are preparing the business plan for Aluminumplant in Kazakhstan

/IRBIS, Aug.29, 00/ - REUTERS informs, with the reference to the regional representative of Mitsui in Kazakhstan, I. Fukunaga, that the Japanese Mitsui and the Canadian CNC Lavalen intend to develop the business plan of the electrolysis plant in Pavlodar in the north of Kazakhstan. He said that the plant's capacity could be 240,000 tons of aluminum a year and the cost of the project at $800 mln. Kazakhstan is said not to have its own electrolysis production, but the production of limestone at Aliuminii Kazakhstana JSC controlled by the group of Eurasian Bank. The plant is said to be built in Pavlodar next to existing limestone plant. It is said that the country was planning to build aluminum plant two years already. However, the major problems were the lack of financing and unstable world situation with the metals. The representative of Mitsui said initial meeting with the representatives of Eurasian bank had been held. He added that they did not expect the government guarantees on the return of the funds, though the project is said to be very important for Kazakhstan. However, as he mentioned, the consortium expects the government to ensure the stability in legislation and taxation. He added that they had to be sure they can export the products and import necessary materials. He said they had receive a strong support from the prime-minister and that they were optimistic.