Kazakhstan’s Samruk Kazyna Sovereign Wealth Fund and Balestra signed on 19 January 2024 an agreement to construct a sulfuric acid plant in the Suzak district of the Turkistan Region.
This plant, designed to produce 800,000 tons of sulfuric acid annually, will supply Kazatomprom, the national uranium company. Samruk-Kazyna, a sovereign wealth fund, was established to enhance the competitiveness and sustainability of the national economy. It manages shares of national development companies and other legal entities to maximize their long-term value and competitiveness. Kazatomprom, on the other hand, is the national operator for the import and export of uranium, rare metals, and nuclear fuel for nuclear power plants.
The construction of the sulfuric acid plant is set to commence in 2024, with full operational capacity expected by 2026. This project will significantly contribute to the economic and social development of the Turkistan region, attracting additional investments and generating local tax revenues. It is estimated to create about 800 jobs during construction and will require about 500 workers for its operation. The plant is of strategic importance to Kazatomprom, the world’s largest uranium producer, as sulfuric acid is the main reagent used in its in-situ leach uranium operations. This is particularly crucial as Kazatomprom has recently warned of potential production shortfalls due to sulfuric acid shortages.
