Russia to Finance Majority of Kazakhstan’s First Nuclear Power Plant
Agency head Almasadam Satkaliyev said during a briefing in Astana that Russia will cover 85% of the project’s cost, while Kazakhstan will finance the remaining 15% from its own budget.
He stated that the project will not face funding difficulties, noting that an agreed financing model has already been established in which the Russian Federation provides the loan to the Kazakh government, according to his remarks.
Satkaliyev added that intergovernmental agreements are currently being prepared, including one covering the construction of the plant and another outlining the financial arrangement with the Russian side.
Under the proposed structure, most of the funding will come through a Russian interstate loan, while Kazakhstan will contribute a smaller share directly.
He also said the preliminary cost of the project, involving cooperation with Russia’s state nuclear corporation, is estimated at around $15 billion. The plant is planned to include two reactors, each with a capacity of 1,200 megawatts.
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