Kazatomprom to set up trading subsidiary

By bne IntelliNews October 19, 2015

Kazakhstan's national uranium company Kazatomprom plans to create a trading company in 2016, the company’s CEO Askar Zhumagaliyev has said. According to him, the company has already organised sales departments based on the best international practice. The creation of a separate trading company will be next step, Zhumagailiey reasoned.

Speaking about current priorities, the CEO noted that the company was focusing on the diversification of production and was mulling over production of fuel assemblies in Oskemen. The company is also working on necessary preparations for the construction of a nuclear power plant.

Kazatomprom is undergoing a transformation programme that assumes the disposal of 27 non-core assets before 2019. At present, the company has 83 subsidiaries. In September, Kazakh President Nursultan Nazarbayev urged Kazatomprom to privatise its non-core assets.

Kazakhstan has been the largest uranium producer in the world since 2009. Kazatomprom is a national operator for producing and exporting uranium, rare metals, nuclear fuel for power plants, special equipment and dual-purpose materials. It is solely owned by the state.

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