National Atomic Company Kazatomprom (Kazakhstan) sets up joint-venture with Toshiba Corporation (Japan)

September 29. KASE

National Atomic Company Kazatomprom (Kazakhstan) sets up joint-venture with Toshiba Corporation (Japan)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.

http://www.kase.kz/en

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