Funding secured for Kazakh sulphuric acid plant

The Development Bank of Kazakhstan JSC and Taiqonyr Qyshqyl Zauyty LLP (TQZ) "have concluded an agreement on opening a credit line to finance the construction" of the plant, Kazatomprom announced. The total investment cost for the project is about KZT113 billion (USD2.6 million). The loan financing from the Development Bank of Kazakhstan is expected to be KZT85 billion, it added.

Sulphuric acid is used in Kazatomprom's in-situ leach uranium operations, but uncertainties over the supply of the vital reagent significantly impacted production plans in recent years.

TQZ is a partnership of Italian company Ballestra's Kazakh partner, the licensor and supplier of technology and equipment, with a 60% ownership interest, and Kazatomprom-SaUran LLP with a 40% ownership interest. The partnership was founded by Kazatomprom in 2023 to implement the construction of the new plant.

The plant is scheduled for completion in the first quarter of 2027, and will make a "significant contribution to the economic and social development of the region", Kazatomprom said. Some 500 jobs are expected to be created during the construction phase, and about 270 when it is in operation.

Article researched and written by WNN's Claire Maden