«Tau-Ken Samruk» JSC (hereinafter – TKS) acquired a 100% share of participation in «Kremniy Kazakhstan» LLC from «Investment Fund of Kazakhstan» JSC (hereinafter- IFK) – subsidiary owned by Baiterek Holding.
Chairman of «Tau-Ken Samruk» JSC Mazhit Turmagambetov and Chairman of «Investment Fund of Kazakhstan» JSC Rinat Sisembayev signed the contract on the purchase of 100% ownership interest in «Kremniy Kazakhstan» LLC. The total value of the contract amounts to 13.6 billion tenge. Under the contract provisions, payment shall be effected in phases within 8 years. As of today, TKS has transferred an initial 5.3 billion tenge. In accordance with the schedule of repayment, full amount is planned to be settled in December 2024.
For reference: «Kremniy Kazakhstan» LLC has on its books a property complex on metallurgical silicon production located in «Saryarka» Free Economic Zone of Karaganda region.
It should be reminded that on December 5, 2013 during meeting of Mining and Metal production, Geology and Solid Minerals Council under the President of the Republic of Kazakhstan, TKS had been tasked to explore the issues of recovery and launching silicon production in Karaganda region. On January15, 2014 TKS and IFK concluded the Agreement of Cooperation aimed at conducting technical audit/evaluation of main equipment as well as start-up and commissioning of metallurgic silicon production based on Aktas veined quartz deposits in Karaganda region. For the purposes of the project implementation TKS established its subsidiary LLC «Tau-Ken Temir», specialist of the latter in cooperation with the employees of the involved companies audited processing and service equipment of the plant, and prepared a plan on recovery of equipment after a long downtime.
During repair and recovery activities works had been undertaken to clean up taphole of scrap, assembly of carbon electrodes in furnace, repair of brick-lining, check and adjust furnace control system as well as to repair furnace bottom carbon lining –cold refractory body.
On October 2, 2014, electric-arc ore thermal furnace № 1 was commissioned, and on October 15, 2014, the silicone production plant manufactured initial products.
On September 25, 2015, furnace № 2 was launched. As a result, full range of plant repair and recovery works was completed. Thus, metallurgic silicon production plant has been running at full capacity. In 2015, the plant manufactured 11,250 tonnes of metallurgic silicon.
For reference. Cut products of the plant are exported to USA, Europe countries and Russia. Estimated output of the plant is 25 thousand tonnes of metallurgic silicon per annum. As of today, the plant has 373 employees.