Russia to Provide Kazakhstan with Funds for Nuclear Power Plant
The remaining 15% will be funded directly by the Kazakhstani government, Satkaliyev told journalists at a press 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.
Two intergovernmental agreements are currently being drafted to formalize the arrangement — one covering the plant's construction and another governing the terms of Russian financing.
"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 placed the preliminary price tag for the project at approximately $15 billion, covering two power units with a combined generating capacity of 2,400 MW — each unit rated at 1,200 MW — to be built with the participation of Russian nuclear giant Rosatom.
Kazakhstan has set its sights on constructing two separate nuclear facilities. The first, named Balkhash, is being developed in partnership with Rosatom, while Astana is currently prioritizing China National Petroleum Corporation as its preferred partner for the second plant.
Construction of the Balkhash facility is projected to span approximately 11 years, with completion targeted between 2035 and 2036. Preliminary research work near the village of Ulken, on the shores of Lake Balkhash, commenced on August 8, 2025.
The second station — operating under the working name "Moyinkum" — will also be situated along Lake Balkhash, though its financing and construction timeline remain under discussion.
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