Kazakhstan plans to acquire share in Russian uranium enrichment plant.

By bne IntelliNews February 27, 2012
Kazakhstan plans to acquire a stake in the largest Russian uranium enrichment plant Urals Electrochemical Combine, head of national uranium miner Kazatomprom Vladimir Shkolnik has said. He added that the amount of Kazakhstans share was not yet determined however it is planned to pay USD 500mn for a stake. Kazakhstan intends to close the transaction this year. A share between 30-49% is being considered, Shkolnik added. Significantly, Kazakhstan and Russia are working on joint center for uranium enrichment on the basis of Urals Electrochemical Combine. Meanwhile, Shkolnik informed that Kazatomprom plans to triple capex to USD 542mn this year. He also noted that investments will be financed from own funds as well as from borrowing.

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