Kazakhstan Signs Contract for Construction of First Nuclear Power Plant

Kazakhstan has signed a contract with Russia for the design, supply, and construction of its first nuclear power plant. The signing took place on September 3 in Vladivostok at the Eastern Economic Forum, attended by the head of the Kazakhstan Atomic Energy Agency, Almasadam Satkaliyev, and the CEO of Rosatom, Alexey Likhachev. The participants in the agreement are "Kazakhstan Nuclear Power Plants" and "Atomstroyexport." The project is moving to the "practical stage." More than 818 billion tenge (approximately 1.7 billion dollars) is allocated for the construction of the first nuclear power plant, which will be built near the village of Ulken in the Almaty region on the shores of Lake Balkhash and will include two VVER-1200 power units. Research work began in August last year, with the pouring of the first concrete expected to start in 2029, and the commissioning of the plant anticipated in 2035-2036. The total cost of the project will be 16.4 billion dollars, with 85% of the funding provided by an export loan from Russia and 15% from Kazakhstan. In May, Russia signed an agreement with Kazakhstan for the construction of the Balkhash Nuclear Power Plant, costing approximately 16.5 billion dollars. Kazakhstan plans to stop importing electricity from Russia starting in 2027.

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