A closed tender for a state block of 31.76% of the shares in the Kazakhstan Aluminum Joint-Stock Company, whose starting price was about $20m, has been declared void. A source in the government of Kazakhstan told RBC that only one application for participation in the tender was submitted.
The government of Kazakhstan has held a tender for selling this block of shares in Kazakhstan Aluminum for the third time. The previous two tenders in March and October 2002 were canceled because documents required for the deal were not prepared on time.
Kazakhstan Aluminum is the only producer of alumina in Kazakhstan (its volume of production is 1.1m tons). It is a member of the Eurasian Industrial Association. Most of the company's products are exported to Russia.