Russia and Kazakhstan on Thursday signed a $16.5 billion agreement to build Kazakhstan’s first nuclear power plant, marking a major step in the Central Asian nation’s long-delayed push into atomic energy.
The deal was signed in Astana during talks between Russian President Vladimir Putin and Kazakh President Kassym-Jomart Tokayev, with Moscow expected to provide substantial export financing for the project.
The plant will be constructed near the village of Ulken on the shores of Lake Balkhash in southeastern Kazakhstan, following public approval in a 2024 referendum.
Russia’s state nuclear firm Rosatom secured the lead role in the project, beating rivals including China National Nuclear Corporation, France’s EDF and Korea Hydro & Nuclear Power.
Kazakhstan’s atomic energy agency said the facility would feature two VVER-1200 III+ reactors and include roughly $2 billion in spending on security and supporting infrastructure.
Construction is scheduled to begin in 2027, while the first reactor is expected to come online in early 2034, according to agency chief Almasadam Satkaliyev.
Tokayev said the project would strengthen Kazakhstan’s long-term energy security, while Putin described the plant as a key contribution to the country’s economic development and electricity supply.
Despite being the world’s largest uranium producer, Kazakhstan has relied heavily on ageing coal-fired plants and electricity imports from Russia to meet rising domestic demand.
The move comes despite lingering public concerns over nuclear energy linked to the legacy of Soviet-era nuclear weapons testing, which left parts of Kazakhstan contaminated and caused widespread health problems.
Kazakhstan has also approved plans for a second nuclear power station, with China National Nuclear Corporation selected as the lead contractor for that project.