Russia Signs $16 Billion Deal To Build Kazakhstan’s First Nuclear Power Plant.
🇷🇺 Russia signed an agreement on Thursday with 🇰🇿 Kazakhstan to build the first nuclear power plant in Central Asia's largest country at a cost of about $16.5 billion, partially covered by a major export loan from Moscow.
Kazakhstan, the world's biggest producer of uranium and a country which suffered from the fallout from Soviet nuclear testing, has been discussing the possibility of atomic power for at least two decades.
A 2024 referendum returned a vote in favour of constructing a nuclear power plant and designated the village of Ulken, on the shores of Lake Balkhash in the southeast of the country as the site.
"The agreement signed today on the construction of the Balkhash NPP has an important role," Kassym-Jomart Tokayev, Kazakhstan's president, said before thanking Russian President Vladimir Putin, who was in Astana for talks, for his support.
"Putting the plant into operation will make a significant contribution to the energy supply of the Kazakh economy," Putin said.
The two sides also signed an agreement on the provision of Russian export credit to finance construction of the plant.
Russia's state nuclear corporation Rosatom won the lead role in building the plant, edging out China National Nuclear Corporation (CNNC), French utility EDF and Korea Hydro & Nuclear Power, according to Kazakhstan's atomic energy agency.
The head of Kazakhstan's atomic energy agency, Almasadam Satkaliyev, told reporters that the cost of the plant - with two VVER-1200 III+ reactors - would be about $16.5 billion, including about $2 billion for security and infrastructure.
Construction will begin in 2027 and the first reactor will be commissioned in early 2034, according to Satkaliyev.
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