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Kazakhstan eyes $500 stake in Russia’s uranium enrichment plant

February 24, 2012, 12:47 UTC+3
A stake in Russia’s largest uranium enrichment enterprise - Urals Electrochemical Combine – may cost Kazakhstan $500 million
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ALMATY, February 24 (Itar-Tass) — A stake in Russia’s largest uranium enrichment enterprise - Urals Electrochemical Combine – may cost Kazakhstan $500 million, the head of the Central Asian republic’s state-run nuclear holding Kazatomprom, Vladimir Shkolnik, said on Friday.

Kazakhstan’s stake in the project has not been finalized yet.

“The price may range between $400-500 million,” he said.

“The talk is about the choice between 30 and 49 percent. Now this issue is being negotiated,” Shkolnik said adding that the parties “plan to seal the deal this year.

Earlier the companies planned to conclude the deal before the end of 2011.

Last spring during his working visit to Astana the head of Russia’s state nuclear company Rosatom, Sergei Kiriyenko, said the plan of actions on selling a stake in the Urals Electrochemical Combine to Kazatomprom “proceeds in strict compliance with the schedule.”

“Until the end of the year the project should be finalized and a large commercial enterprise for uranium enrichment will start full operation on Russia’s territory,” he said.

The chief of Kazatomprom also confirmed then that the company “plans to finalize the deal before the end of the year.”

 

 

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