Russia will provide Kazakhstan with an intergovernmental export loan to finance the construction of the country’s first nuclear power plant. The total financing package is estimated at approximately $16.4 billion, including about $2 billion allocated for social infrastructure and safety systems.
Kazakhstan and Russia signed agreements outlining the key principles and terms of cooperation for the construction of Kazakhstan’s first nuclear power plant in the Almaty region.
Loan terms described as favorable
Almassadam Satkaliyev, chairman of Kazakhstan’s Agency for Atomic Energy, said the loan terms are favorable for Kazakhstan but declined to disclose specific details.
«In total, the preliminary estimate is approximately $14.4 billion for the two power units, and around $2 billion for the physical security system and social infrastructure,» Satkaliyev said.
Construction expected to begin in 2027
The additional $2 billion will also cover the cost of nuclear fuel for the plant during the warranty period.
According to Satkaliyev, construction of the nuclear power plant could begin as early as 2027 and may take up to 10 years to complete. The first reactor unit is expected to be commissioned in 2034.
Read also: Why Russia’s Rosatom is the undisputed pick for Kazakhstan’s first nuclear plant.
Kazakhstan’s first nuclear power plant, the Balkhash NPP, is planned near the village of Ulken on the shores of Lake Balkhash in the Almaty region.
The project will be implemented by a consortium led by Russia’s state nuclear corporation Rosatom. The plant is expected to become operational in 2035-2036.
