Kazakhstan has signed a contract with Rosatom to build its first nuclear power plant
Kazakhstan has signed a contract with Russia to carry out the project for the country’s first nuclear power plant. The agreement covers the design, supply of equipment, and construction of the nuclear power plant.
It is noted that the signing ceremony took place on September 3 in Vladivostok on the sidelines of the Eastern Economic Forum in the presence of Almasadam Satkaliev, head of the Kazakhstan Atomic Energy Agency, and Alexei Likhachov, CEO of Rosatom Alexey Likhachev.
The parties to the agreement are “Kazakhstan Nuclear Power Plants” and “Atombudexport,” a subsidiary of Rosatom.
The Kazakhstan Atomic Energy Agency stated that the project is moving into the “practical phase.”
According to the publication, the draft three-year national budget allocates more than 818 billion tenge (about $1.7 billion) for the construction of Kazakhstan’s first nuclear power plant. These funds are planned to be allocated to the authorized capital of “Kazakhstan Nuclear Power Plants” in three tranches: nearly 248 billion tenge in 2027, 303 billion in 2028, and 267 billion in 2029.
It is reported that the first nuclear power plant is planned to be built near the village of Ulken in the Almaty Region on the shore of Lake Balkhash. The project includes two VVER-1200 power units.
Exploratory work at the site began in August of last year. The first concrete pour is reportedly set to begin in 2029, and the plant is expected to come online in 2035–2036.
Satkaliev stated in the spring that the total cost of the project would amount to $16.4 billion. An export credit from Russia accounts for 85% of the financing, while Kazakhstan’s contribution accounts for 15%.
According to the draft budget, the Kazakhstani side plans to transfer three tranches from the national budget totaling more than 550 billion tenge to the supplier even before major construction work begins, the article states.
Kazakhstani authorities approved the decision to build the nuclear power plant in 2024 following the results of a referendum. Observers reported violations of legal requirements during the voting, including instances of ballot stuffing.
Source: Radio Azattyk
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