AREVA and Kazatomprom sign a Fuel marketing joint venture agreement
06.10.2009Astana
AREVA CEO Anne Lauvergeon and KAZATOMPROM President Vladimir Shkolnik signed today an agreement to create a Fuel Marketing Joint Venture named IFASTAR. The signing took place during an official visit by French President Nicolas Sarkozy to Astana (Kazakhstan).
This agreement follows the signature of a Framework Agreement in September 2009, and reinforce the partnership between both companies in the front-end cycle. It confirms AREVA and Kazatomprom strategy to develop their positions in Asia, producing together the most important uranium production in the world: almost 30% produced in 2008 came from both companies.
Under the terms of the agreement, the newly created Paris-based IFASTAR will be owned jointly by AREVA (51%) and KAZATOMPROM (49%).
The mission of IFASTAR is to perform a Feasibility Study consisting of two parts:
- The assessment of the Asian market in view of selling integrated fuel packages (including all front-end segments and combining KAZATOMPROM’s uranium resources and AREVA’s fuel technology) to electric utilities operating in Asia
- The assessment of the technical and economical feasibility of the construction of a dedicated fuel manufacturing line (400 tU/year) located at KAZATOMPROM‘s Ulba Metallurgical Plant (UMP) site in Ust-Kamenogorsk (Kazakhstan).
Depending on the results of the assessment, and after decision of the partners, IFASTAR would run the sales of the products from this line while the fuel manufacturing itself would be performed by another joint venture, owned jointly by KAZATOMPROM (51%) and AREVA (49%).
“The signing comes as a further result of a constructive long term relationship between KAZATOMPROM and AREVA and is, for us a further milestone in establishing a vertically integrated company, producing a value added product – fuel assemblies,” Vladimir Shkolnik said.
Anne Lauvergeon commented: “This agreement reinforces the strategic partnership between AREVA and KAZATOMPROM. It will contribute to the diversification and security of our supplies by increasing available Uranium resources for our customers.”
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About AREVA
All over the world, AREVA provides its customers with solutions for carbon-free power generation and electricity transmission. With its knowledge and expertise in these fields, the group has a leading role to play in meeting the world’s energy needs. Ranked first in the global nuclear power industry, AREVA's unique integrated offering covers every stage of the fuel cycle, reactor design and construction, and related services. In addition, the group is expanding its operations in renewable energies, including biomass, wind power and fuel cells. AREVA is also a world leader in electricity transmission and distribution and offers its customers a complete range of solutions for greater grid stability and energy efficiency. Sustainable development is a core component of the group’s industrial strategy. Its 75,000 employees work every day to make AREVA a responsible industrial player that is helping to supply ever cleaner, safer and more economical energy to the greatest number of people.
About KAZATOMPROM
Kazatomprom 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 purpose equipment, technologies and double-use materials. The main activities of the company are: geological exploration, uranium production, manufacture of nuclear fuel cycle products, reactor construction, nuclear power plants, non-ferrous metallurgy and production of construction materials, the electric energy sector, scientific support of production and social welfare and training of personnel. Today Kazatomprom has more than 25,000 employees and is amongst the leading uranium production companies in the world.
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