The heads of Kazakh uranium producer KazAtomProm and China’s CITIC Group have met to discuss attracting investment to the Central Asian country’s nuclear energy sector. Askar Zhumagaliyev and Chang Zhenming met as part of the working visit to China of Kazakhstan’s first deputy prime minister, Bakytzhan Sagintayev.
CITIC Group, formerly the China International Trust and Investment Corporation, is a state-owned investment company established in 1979.
The talks build on agreements KazAtomProm signed with Chinese companies at the end of last year. These include one for the development of Kazakh uranium mines and the construction of a nuclear fuel plant in Kazakhstan.
During an official visit by Kazakh prime minister Karim Massimov to China, commercial terms agreements were signed between KazAtomProm and China General Nuclear (CGN) for the fuel assembly plant and development of uranium projects. The agreements were signed on 14 December by KazAtomProm’s Zhumagaliyev and CGN CEO Zhang Shanming.
Under the agreement for setting up a fuel assembly production plant, a facility based on the existing Ulba Metallurgical Plant is to be built with a capacity for 200 tonnes per year. It will supply fuel to Chinese nuclear power reactors, KazAtomProm said in a statement. Separately, KazAtomProm signed a trilateral agreement of intent with China National Nuclear Corporation (CNNC) and CITIC Group to extend their cooperation.
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