Nazarbayev encourages Kazakhstan's Ust-Kamenogorsk Titanium Plant to forge more international joint ventures
ASTANA. Aug 23 (Interfax) - President of Kazakhstan Nursultan Nazarbayev met with the management of the Ust-Kamenogorsk Titanium Magnesium Plant (UKTMP), the head of state's press office has said.
"The state provides all possible assistance and supports all your efforts. Today, the plant operates consistently and steadily. Last year, as far as I know, there was an increase of 10% in production and of 20% in revenue," Nazarbayev said.
The president stressed the need to pursue innovative projects involving foreign companies, which will strengthen the company's profile.
"In 2014, jointly with the French government, we established a second facility producing titanium ingots for the nuclear industry. Construction has been completed. On September 15, an official opening will be held for the new plant," UKTMP president Asem Mamutova said.
Another joint project with South Korean POSCO successfully employs advanced technologies, which makes it competitive enough to enter the world market of titanium mill products, she added.
In 2014, JV UKAD, the French government in the person of the environmental and energy management agency ADEME and Credit Agricole Centre France regional bank founded Eco Titanium. UKAD is a joint venture between Aubert & Duval and the Kazakh UKTMP company, a world leader in titanium sponge production.
POSUK Titanium is a joint Kazakh-Korean venture of UKTMK and POSCO that focuses on producing titanium ingots and slabs in electron beam furnaces. The plant began operating in late 2014.
Ust-Kamenogorsk Titanium Magnesium Plant produces and sells non-ferrous metals including top quality titanium sponge and sale magnesium. As of January 1, 2016 Belgium's Specialty Metals Holding Company is the plant's primary shareholder.
