Astana: Russia will provide Kazakhstan with 85% of the funds for the construction of its first nuclear power plant in the form of a loan, the head of Kazakhstan's Atomic Energy Agency said 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.
According to Anadolu Agency, Satkaliyev stated that there will be no financing problems for the nuclear 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 mentioned that relevant intergovernmental agreements are being worked out. These agreements will cover both the construction of the nuclear power plant and the provision of financing from the Russian side.
The financing from the Russian Federation, as explained by Satkaliyev, will be structured with 85% as a loan and 15% funded by the government of Kazakhstan. The preliminary cost for constructing the nuclear power plant, with Rosatom's participation, is estimated at approximately $15 billion for two power units with a capacity of 1,200 MW each.
Kazakhstan plans to build two nuclear power plants. The Russian nuclear corporation Rosatom will construct the first plant. For the second plant, Astana is considering the China National Petroleum Corporation as a priority partner. The construction of the first plant, named Balkhash, is expected to take approximately 11 years and could be completed in 2035-2036. Research work near the village of Ulken on Lake Balkhash began on August 8, 2025. The second station, with the working name "Moyinkum," will also be located on Lake Balkhash.
