Azernews.Az

A deal on the acquisition of 25 percent plus one share in the authorized capital of Ural Electrochemical Plant JSC (UEC project ) by the Russian-Kazakh company Uranium Enrichment Center (UEC) was completed JSC last week , the Kazakh company Kazatomprom reported.

"By late 2013 , the Uranium Enrichment Center JSC has to make the first commercial delivery in the amount of 300,000 SWU (separative work unit). As part of the activities, the joint venture will have access to uranium enrichment services in the amount of five million SWU per year," the company reported.

UEC project is implemented within the framework of the agreements of Presidents of Kazakhstan and Russia, enshrined in the Comprehensive Program of the Russian-Kazakh cooperation on peaceful use of nuclear energy.

In July 2010 , Kazatomprom JSC and Rosatom State Corporation signed a joint statement on the implementation of the project in the format of Uranium Enrichment Center 's participation in the authorized capital of the Russian company Ural Electrochemical Integrated Plant JSC.

The UEC project is the first project in the nuclear fuel cycle of Russia related to the implementation by the foreign partner of investments in the form of the acquisition of shares in the authorized capital of the Russian company, which has strategic importance.

The Center established on a parity basis is a Russian-Kazakh joint venture. 50 percent of the shares belong to TVEL JSC (Fuel Company of Rosatom ), and 50 per cent of the shares to NAC Kazatomprom JSC.