Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
ASTANA - National Atomic Company "Kazatomprom (LON:KAPq)" JSC, the world’s top uranium producer, has announced the signing of a credit line agreement between Development Bank of Kazakhstan JSC and Taiqonyr Qyshqyl Zauyty LLP (TQZ) to finance the construction of a new sulphuric acid production facility in Taikonur, Turkestan region.
The project, which carries a total investment cost of approximately 113 billion tenge (KZT), will receive loan financing of around 85 billion tenge from the Development Bank of Kazakhstan. TQZ, the entity responsible for the plant’s construction, is a partnership between Ballestra’s Kazakh affiliate, which holds a 60% stake and is the technology and equipment supplier, and Kazatomprom-SaUran LLP, which owns the remaining 40%.
Set to be completed in the first quarter of 2027, the plant is expected to have an annual production capacity of 800 thousand tons of sulphuric acid. The facility aims to contribute significantly to the economic and social development of the Turkestan region. It is anticipated to attract additional investments, increase tax revenues, and create employment opportunities, with up to 500 people involved in the construction phase and about 270 specialists for its operation.
Kazatomprom, headquartered in Astana, Kazakhstan, is a global leader in uranium production, with its 2024 attributable production accounting for approximately 21% of the world’s primary uranium output. The company operates through subsidiaries, joint ventures, and associates, managing 27 deposits grouped into 14 mining assets all located in Kazakhstan. These operations utilize in-situ recovery (ISR) technology and are committed to upholding industry-leading standards in health, safety, and environmental practices.
The company’s securities are listed on the London Stock Exchange (LON:LSEG) and the Astana International Exchange. Kazatomprom primarily serves nuclear generation operators and exports its products to Asia, Europe, and North America. Uranium and uranium products are sold via long-term and short-term contracts, as well as on the spot market, through the company’s trading subsidiary based in Switzerland, Trade House KazakAtom AG (THK).
This development is based on a press release statement and the company’s forward-looking statements involve risks and uncertainties that could cause actual outcomes to differ materially from those projected.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.