AREVA and KAZATOMPROM strengthen their partnership in the front-end nuclear cycle
GROUP / FRONT END
October 27, 2010
In Paris today during the official visit to France of Kazakh President, Nursultan Nazarbayev, AREVA CEO, Anne Lauvergeon, and KAZATOMPROM Chairman of the Board Vladimir Shkolnik signed an agreement to create a fuel fabrication joint-venture. This new agreement emphasizes the determination of both companies to reinforce their strategic partnership in the field of front-end nuclear cycle.
The new company, owned 51 % by KAZATOMPROM and 49 % by AREVA, is to build a new fuel assembly manufacturing line based on the AREVA design for the Ulba facility, located in the East of Kazakhstan. The new 400-ton per year capacity unit is scheduled to start operating in 2014.
The joint-venture IFASTAR owned 51% by AREVA and 49% by KAZATOMPROM created by the two partners last year will commercialize production.
After the signing, Anne Lauvergeon stated: “This agreement illustrates the group’s integrated offer strategy and strengthens our position on the world-wide fuel market.”
Vladimir Shkolnik noted: ”Kazatomprom is consistent with implementation of its program to create a vertically integrated company with complete nuclear fuel cycle, thus this agreement with AREVA is another important milestone of this strategy”.
Kazatomprom is the national operator of the Republic of Kazakhstan for export of uranium and its compounds, rare metals, nuclear fuel for nuclear power plants, special purpose equipment, technologies and double-use materials.
The main activities of the company are: geological exploration, uranium production, manufacture of nuclear fuel cycle products, reactor construction, nuclear power plants, production of construction materials, the electric energy sector, scientific support of production and social welfare and training of personnel.
Today Kazatomprom has more than 26,000 employees and is amongst the leading uranium producing companies in the world.