Kazatomprom to invest around $230 mln

Construction of new plant to take at least two years

French group will partner Kazakh firm


ASTANA, March 11 (Reuters) – Kazakhstan’s state nuclear company, Kazatomprom, plans to expand into solar panels production by investing around $230 million in a new factory in Astana, the head of the company said on Friday.

Construction of the plant would begin in March in the capital and take at least two years, Kazatomprom President Vladimir Shkolnik said during a meeting in the Senate.

He said Kazatomprom would partner with a group of French companies to build the plant. He did not name the companies.

The investment comes at a time when investors are concerned about cutbacks in incentives for solar power in top European markets including Italy, France and Germany, which could potentially lead to a global supply glut. [ID:nN10191977]

source: af.reuters