Astana, Kazakhstan. Russia and Kazakhstan signed an agreement on Thursday to build the first nuclear power plant in Central Asia’s largest country, with the project estimated to cost about $16.5 billion and partly financed by a Russian export loan.
Project details
Kazakhstan, the world’s largest producer of uranium, has been considering nuclear power for at least two decades. A 2024 referendum supported construction of a plant and identified the village of Ulken, on the shores of Lake Balkhash in southeastern Kazakhstan, as the site.
Statements from leaders
“The agreement signed today on the construction of the Balkhash NPP has an important role,” Kazakhstan President Kassym-Jomart Tokayev 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.
Financing and contractor
The two sides also signed an agreement on Russian export credit to finance construction of the plant.
Russia’s state nuclear corporation Rosatom won the lead role in building the plant, ahead of China National Nuclear Corporation, French utility EDF and Korea Hydro & Nuclear Power, Kazakhstan’s atomic energy agency said.
Cost and timeline
Almasadam Satkaliyev, head of Kazakhstan’s atomic energy agency, said the plant, which will have two VVER-1200 III+ reactors, will cost about $16.5 billion, including about $2 billion for security and infrastructure.
Construction is scheduled to begin in 2027, and the first reactor is expected to be commissioned in early 2034, Satkaliyev said.
Nuclear history
Kazakhstan was the site of hundreds of Soviet nuclear weapon tests, leaving large areas uninhabitable and causing illnesses among people in nearby areas. The legacy of those tests has also made many people distrustful of nuclear projects.
