Kazakhstan advances first nuclear plant with Russian loan

Russia will provide Kazakhstan with 85% of the funding for the construction of its first nuclear power plant in the form of a loan, the head of Kazakhstan’s Atomic Energy Agency said on Tuesday, News.Az reports, citing Anadolu.

The remaining 15% will be financed by the government of Kazakhstan, Almasadam Satkaliyev told journalists at a briefing in the capital, Astana.

“There will be no financing problems for our station. A formula has been determined under which the Russian Federation will provide an interstate loan to the government of the Republic of Kazakhstan,” he said.

According to him, the relevant intergovernmental agreements are currently being developed.

“This will be an interstate loan. Intergovernmental agreements are currently being developed: the first on the construction of the nuclear power plant, and the second on the provision of financing from the Russian side,” he said.

He reiterated that 85% of the project will be financed through a Russian loan, while 15% will be covered by Kazakhstan’s government.

Satkaliyev noted that the preliminary cost of constructing a nuclear power plant with participation from Russia’s Rosatom is around $15 billion, covering two reactor units with a capacity of 1,200 MW each.

Kazakhstan is planning to build two nuclear power plants. The first will be constructed by Russian state nuclear corporation Rosatom, while for the second plant Astana is considering China National Petroleum Corporation as a priority partner.

The first plant, named Balkhash, is expected to take around 11 years to build and could be completed by 2035–2036. Research work near the village of Ulken on Lake Balkhash began on August 8, 2025.

The second station, with the working name “Moyinkum,” will also be located on Lake Balkhash.

News.Az 

By Nijat Babayev