Russia to provide Kazakhstan with $13 billion loan for NPP construction
Russia will provide Kazakhstan with an intergovernmental loan for the construction of a nuclear power plant (NPP) near Lake Balkhash, covering 85% of the total cost of Rosatom’s 2.4-gigawatt project, according to Almasadam Satkaliyev, head of the Atomic Energy Agency of the Republic of Kazakhstan.
The official also confirmed that the total cost of the NPP will be approximately $15 billion. Thus, Russia is expected to provide a $12.75 billion loan, while Kazakhstan will contribute the remaining $2.25 billion toward the construction of its first NPP.
«This will be an intergovernmental loan. Several agreements are currently being developed: one on the construction of the NPP and another on the provision of financing from the Russian side. Financing from the Russian Federation is being structured with 85% provided as a loan and 15% funded by the government of Kazakhstan,» Satkaliyev said.
As he noted, the two sides are currently negotiating the relevant project documents. The official also expressed confidence that there will be no financing issues for the first NPP.
«There will be no financing issues for our plant. A framework has been determined under which the Russian Federation will provide an intergovernmental loan to the government of the Republic of Kazakhstan,» he emphasized.
Satkaliyev also revealed that one of Kazakhstan’s future NPPs could be built in Kostanay within 20 to 30 years. Other potential sites include Kurchatov in the Abay region and Aktau, where the Soviet BN-350 reactor previously operated. Overall, decisions on plant locations will be made with industrial development, projected electricity demand, and other factors in mind.
