Russia and Kazakhstan Sign $16.5B Deal for Central Asia’s First Nuclear Power Plant
Russia and Kazakhstan have agreed on a $16.5 billion contract to build Kazakhstan’s first nuclear power plant. A large part of the funding will come from a Russian export loan. The plant will be sited in Ulken on the shores of Lake Balkhash. Its construction was approved by a 2024 referendum after decades of discussion. Rosatom will lead the build with two VVER-1200 III+ reactors. Work is set to begin in 2027 and the first reactor should start operations in early 2034. President Tokayev said the plant will strengthen Kazakhstan’s energy supply. President Putin welcomed the partnership and the export credit arrangement.
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