Development Bank of Kazakhstan to finance sulfuric acid project for KazatompromDevelopment Bank of Kazakhstan (DBK) will finance the construction of a sulfuric acid plant by Taiqonyr Qyshqyl Zauyty LLP for the needs of National Atomic Company Kazatomprom, the bank's press service said in a statement.“DBK and project company Taiqonyr Qyshqyl Zauyty LLP have signed an agreement to open a credit line for an investment project for the construction of a sulfuric acid plant in the village of Taiqonyr in the Turkistan region. The design capacity of the plant will be 800,000 tonnes of sulfuric acid a year. The total project cost is 113 billion tenge,” the statement says.Italy’s Ballestra will act as the project's full-cycle technology partner, providing licensing, equipment and engineering services. The plant will be located near the uranium mines in the Taiqonyr village, the Saryagash district, ensuring efficient logistics for the sulfuric acid supply for in-situ uranium leaching operations.Kazatomprom will be the primary consumer of the acid."The project aims to reduce dependence on sulfuric acid imports and ensure stable supply for Kazakhstan's uranium industry," the statement says.Construction is scheduled for completion in the 1st quarter of 2027.Kazatomprom established Taiqonyr Qyshqyl Zauyty LLP in April 2023 in order to build a sulfuric acid plant, with founding shareholders including NAC Kazatomprom (49%) and its subsidiaries RU-6 LLP (25%) and Kazatomprom-SaUran LLP (26%). In early 2024, Kazatomprom transferred its 49% stake to subsidiary Kazatomprom-SaUran LLP as part of restructuring.National Atomic Company Kazatomprom JSC is the national operator of the Republic of Kazakhstan for export of uranium and its compounds, rare metals, nuclear fuel for nuclear power plants, special equipment, technologies and dual-use materials. Kazatomprom is controlled by Kazakhstan’s Sovereign Wealth Fund Samruk-Kazyna JSC (62.99%) and Ministry of Finance (12.01%), the remaining 25% are in free float.Development Bank of Kazakhstan (DBK) was organized in 2001. The bank finances medium- and long-term investment projects in infrastructure and non-resource sectors and attracts external and internal investment in the republic. DBK is part of National Managing Holding Company Baiterek, which was created in May 2013 to manage the stakes in the national institutes of development, the national companies and other legal entities. Baiterek either owns such stakes or manages them on behalf of the other stakeholders. (ICE ALMATY)

Fonte notizia: INTERFAX