Investors from the UAE and Russia will jointly process rare-earth elements in Kazakhstan
The emirates company "SSD Group" and the Russian Group of Companies "DINATRON" plan to jointly produce rare earth elements based on the Irtysh chemical and metallurgical plant in the East Kazakhstan region. The parties announced this during a meeting with the Chairman of the Management Board of "KAZAKH INVEST" NC" JSC Meirzhan Yussupov.
During the meeting, the management of the SSD Group and the DINATRON Group of Companies announced plans to jointly implement investment projects in Kazakhstan, in particular, the project for the modernization of the Irtysh chemical and metallurgical plant, as well as an intention to invest in energy projects for this enterprise.
“Today we produce high-purity titanium and niobium at ICMP. Now, together with our partners from the UAE, we are planning to organize a process of deep processing of rare metals such as titanium, zirconium, and niobium,” said Sergey Plotnikov, Chairman of the Board of Directors of the DINATRON Group of Companies.
“Considering the significant energy intensity of the metallurgical industry, together with the SSD Group, we are also considering the possibility of investing in renewable energy projects to meet the needs of ICMP in electricity,” added Viktor Popov, President of the DINATRON Group of Companies.
As part of the modernization of the enterprise, the construction of a new forging, sheet-rolling, and pipe-rolling production is being worked out. Therefore, by 2024 the volume of investments in the metallurgical plant will exceed $ 100 million.
“As part of the investment strategy, SSD Group intends to expand its business, and Chairman of the Board of Directors Sheikh Sultan bin Suroor Al Dhahiri has high hopes for the potential of the investment climate in Kazakhstan. We look forward to productive cooperation with DINATRON Group of Companies," said General Director of SSD Group, Mr. Ragheb Kanan.
During the meeting, the General Director of SSD Group Ragheb Kanan and the management of the DINATRON Group of Companies signed a cooperation agreement.
“Kazakhstan seeks to become a part of the global supply chain of infrequent and rare-earth metals and products from them, which is actively used in high-tech industries. And ICMP can become a driver for the development of the industry of production of rare-earth metals in Kazakhstan. In this regard, KAZAKH INVEST, together with state bodies and organizations, provides comprehensive support for the development of a unique enterprise of the Irtysh Chemical and Metallurgical Plant "- added the Chairman of the Management Board of "KAZAKH INVEST" NC" JSC Meirzhan Yussupov.
It should be noted that since the beginning of the modernization, the plant has produced over 20 tons of high-purity titanium and four high-purity niobium ingots. By 2024, it is planned to increase the annual production of titanium to 1000 tons, and niobium to 200 tons. When the enterprise reaches its design capacity, it will create about 500 permanent jobs.
For reference: The company "SSD Group" was founded in 1977, it includes more than 40 enterprises that are owned, operated, or under the patronage of Sheikh Sultan bin Suroor Al Dhahiri. Presently, the SSD Group has a solid base and a diverse international investment portfolio covering more than a dozen countries (UK, Canada, Egypt, Lebanon, Kuwait, Bahrain, and Morocco, etc.) Includes a diverse set of enterprises and activities (oil and gas services, agribusiness, mining, and metallurgical complex, real estate, trade, healthcare, etc.).
The Group of Companies "DINATRON" was founded in 1996 by a group of technologists, specialists from the nuclear industry in the Russian Federation to carry out scientific and technical work at the enterprises of "ROSATOM". Currently, the company's team includes more than 20 candidates and doctors of technical sciences with unique competencies in the development and industrial implementation of technologies for the production of rare-earth metals. The structure of "DINATRON" includes 9 Russian and Kazakh companies.