National Atomic Company Kazatomprom (Kazakhstan) sets up joint-venture with Toshiba Corporation (Japan)
September 29. KASE
JSC “NAC Kazatomprom” and Japanese Toshiba Corporation have set up a joint-venture for research, exploration, extraction, production and marketing of rear-metal and rear-earth items and materials.
Government registration of the Limited Liability Partnership “Joint-Venture “KT Rear Metals Company” took place on September 21, 2011.
The joint-venture’s goal is to found a vertically integrated company for production of rear earth and rear metal products with high value added.
The article of incorporation and the charter of the joint-venture were signed on September 8, 2011 by Sergey Yashin, deputy CEO of JSC NAC Kazatomprom, and Kiyoshi Okamura, Corporate Vice-President, General Manager of Nuclear Energy Systems & Services Division, Power Systems Company, Toshiba Corporation.
The share of JSC NAC Kazatomprom in the JV makes up 51%, that of Toshiba Corporation – 49%. The registered capital – KZT750 m. The JV’s headquarters will be located in Astana. It is expected that the JV will take up its operations in November 2011 already.