Airbus aircrafts will be produced using metal from Kazakhstan. The only titanium magnesium plant in Kazakhstan has received trade financing and has an opportunity to increase export volumes, reported Khabar TV Channel.
The soft loans will enable the plant to purchase materials to produce titanium sponge, alloys and ingots, which are used in the aerospace industry.
Airbus confirmed that it is going to purchase a portion of the products. However, Airbus hasn’t disclosed which of its aircraft parts will be produced using Kazakh metal. This information is considered to be confidential.
The Kazakh government created the KAZNEX INVEST agency a few years ago to provide state financial support to businesses, such as the plant that will supply metal to Airbus. Major companies received 35 billion tenge (US$140 million) under the programme and 15 billion tenge (US$60 million) more is expected to be provided.
“As of today, Kazakhstan produces seven percent of world titanium and magnesium production. We hope that state support will help to increase this volume several times,” said Managing Director of KAZNEX INVEST Askar Arynov.
Today, 16 Airbus aircrafts are used in Kazakhstan.