Russia to Fund Construction of Kazakhstan’s First Nuclear Power Plant

RUSSIA – Russia will provide 85% of the funds required for the construction of Kazakhstan’s first nuclear power plant in form of a loan, according to the Kazakh’s Atomic Energy Agency head Almasadam Satkaliyev on Tuesday.

The remaining 15% will be covered by the government of Kazakhstan, Almasadam Satkaliyev told journalists at a press briefing in Kazakhstan’s 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 being worked out.

“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.

“Financing from the Russian Federation is being considered, where 85% will be in the form of a loan and 15% from the government of Kazakhstan.”

Satkaliyev pointed out that the preliminary cost of constructing a nuclear power plant with Rosatom’s participation is approximately $15 billion for two power units with a capacity of 1,200 MW each.

Kazakhstan plans to build two nuclear power plants. The first will be built by the Russian nuclear corporation Rosatom, for the construction of the second Astana is considering the China National Petroleum Corporation as a priority partner.

The construction of the first plant, named Balkhash, will take approximately 11 years and could be completed in 2035-2036. Research work near the village of Ulken on Lake Balkhash began on Aug. 8, 2025.

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