Kazatomprom and Siemens signed a strategic agreement on gradual establishment of local production of high-tech measurement, industrial automation equipment as well as distribution and switching electrical equipment in Kazakhstan.
As part of this agreement, a joint production site between Siemens and KAP Technology LLP (a subsidiary of Kazatomprom) is planned to be created in Turkestan, which will step by step locally produce high-precision electromagnetic flowmeters, automation cabinets, frequency converters, pressure sensors and other devices.
"This project continues our efforts to increase the volume of domestic goods and develop the offtake system in accordance with the Address of the Head of State. Kazatomprom has a Local Project Office for Import Substitution, that supports domestic producers and considers new projects. Localization of production together with Siemens will increase the level of automation and digitalization at our enterprises, that will make them more competitive in the global market", emphasized Meirzhan Yussupov, the CEO of Kazatomprom.
Cooperation with Siemens, the official partner of KAP Technology, confirms the mutual commitment to the development of innovative technologies and the implementation of modern solutions in industrial automation. Throughout the partnership, the company provided not only technological equipment, but also consulting, engineering and maintenance services, which significantly increased the efficiency of production processes. The new project will be an important milestone in the long-term cooperation between Kazatomprom and Siemens and will create additional jobs, provide training for qualified specialists.
It should be noted that this project is part of Samruk-Kazyna Fund’s broad strategy. In September, as part of Kazakh-German Business Forum, the Fund signed an agreement with Siemens on the supply of equipment and materials for production localization, the establishment of joint production in Kazakhstan, personnel training and implementation of other initiatives. This cooperation will strengthen Kazakhstan's innovative capabilities and make a significant contribution to the development of the country's economy.
For more information, please contact:
Public Relations and Media Inquiries
Altynay Karibzhanova, Acting Director, Public Relations
Tel: +7 7172 45 80 63
Email: pr@kazatomprom.kz
Investor Relations Inquiries
Botagoz Muldagaliyeva, Director, Investor Relations
Tel: +7 7172 45 81 80 / 69
Email: ir@kazatomprom.kz
A copy of this announcement is available at www.kazatomprom.kz.
About Kazatomprom
Kazatomprom is the world's largest producer of uranium, with the Company’s attributable production representing approximately 20% of global primary uranium production in 2023. The Group benefits from the largest reserve base in the industry and operates, through its subsidiaries, JVs and Associates, 26 deposits grouped into 14 mining assets. All of the Company’s mining operations are located in Kazakhstan and extract uranium using ISR technology with a focus on maintaining industry-leading health, safety and environment standards.
Kazatomprom securities are listed on the London Stock Exchange, Astana International Exchange, and Kazakhstan Stock Exchange. As the national atomic company in the Republic of Kazakhstan, the Group's primary customers are operators of nuclear generation capacity, and the principal export markets for the Group's products are China, South and Eastern Asia, Europe and North America. The Group sells uranium and uranium products under long-term contracts, short-term contracts, as well as in the spot market, directly from its headquarters in Astana, Kazakhstan, and through its Switzerland-based trading subsidiary, Trade House KazakAtom AG (THK).
For more information, please see the Company website at www.kazatomprom.kz.
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