Kazakhstan Secures Russian Financing for First Nuclear Power Plant

(MENAFN) Kazakhstan has confirmed that it will receive major financial support from Russia for the construction of its first nuclear power plant, with most of the project cost expected to be covered through a state-backed loan arrangement.

According to the head of Kazakhstan’s Atomic Energy Agency, Almasadam Satkaliyev, Russia will finance around 85% of the project through an interstate loan, while Kazakhstan will fund the remaining 15% directly from its government budget.

He stated that no financing difficulties are expected for the project and that intergovernmental agreements are currently being finalized, including separate arrangements covering construction and funding terms.

The planned nuclear facility is expected to cost approximately $15 billion and will include two reactor units, each with a capacity of 1,200 megawatts.

The project is being developed with participation from Russia’s state nuclear corporation Rosatom. Kazakhstan is also considering additional cooperation with other international partners, including China, for a second planned nuclear facility.

Construction of the first plant, named Balkhash, is projected to take around 11 years, with completion expected between 2035 and 2036. Preparatory research work near Lake Balkhash began in August 2025.

A second planned facility, currently referred to as “Moyinkum,” is also expected to be located in the Lake Balkhash region as part of Kazakhstan’s broader long-term energy development strategy.

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