More consolidation at Rosatom

13 December 2016

Russian state nuclear corporation Rosatom is continuing to restructure and consolidate in both its uranium and engineering sectors. On 5 December, it was announced that JSC U1 Group - part of Russian state nuclear corporation Rosatom's international mining division - had taken 100% ownership of Uranium One Holding NV, the Netherlands-registered company responsible for Rosatom's uranium assets in Kazakhstan, Tanzania and the USA. The transaction, which involved the purchase of 32.5% of the stock of Uranium One Holding from Rosatom uranium mining holding JSC Atomredmetzoloto (ARMZ), has completed the consolidation of Rosatom's foreign uranium production assets. It has also resulted in an increase of Atomenergoprom's ownership of U1 Group to 78.4%, U1 Group said. Atomenergoprom is a vertically integrated Rosatom holding company that unites some 50 enterprises of the nuclear industry from uranium production to nuclear power plant construction and energy generation.

"The corporate structural optimisation of the international mining division Uranium One has been carried out in order to consolidate its international operations, enhance transparency, management efficiency, and position the company for further growth and collaboration with foreign partners, as part of the overall long term strategic plan”, commented Vasily Konstantinov, head of Uranium One.

A few days earlier, Nizhny Novgorod Engineering Company (NIAEP) was renamed Atomstroyexport, following an extraordinary shareholders meeting. The change is to NIAEP's name only and not to its legal status or leadership, with Valery Limarenko still remaining as its president, Rosatom said. The renaming represents the final stage in the formation of the ASE Group and reflects the established and respected ASE brand as Rosatom's overseas engineering unit, Rosatom said. ASE Group - which was formed from the merger of NIAEP, ASE and Atomproekt, another Rosatom design and engineering subsidiary - accounts for 30% of the global NPP construction market and has offices in 15 countries, Rosatom said. Some 80% of ASE Group's orders are in the overseas market, it added.



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