Russia will finance the construction of Kazakhstan's first nuclear power plant with a loan of its own
The construction of Kazakhstan’s first nuclear power plant, to be carried out by Rosatom, will be financed primarily through a Russian export credit.
This was stated by Almasadam Satkaliev, head of Kazakhstan’s Atomic Energy Agency.
According to him, the total cost of the project is $16.4 billion. Another $2 billion is planned to be spent on the physical security system and social infrastructure.
“We are talking about a fairly large amount of funding. $16.4 billion is the cost of the two units themselves, and about $2 billion is for the physical security system and social infrastructure,” Satkaliev said.
He clarified that the financing will be provided through an export credit from Russia.
Rosatom CEO Sergey Likhachev also confirmed that the Russian loan will cover “the majority of the capital investments.”
“A certain portion of the funding will still be provided by the Kazakhstani side,” he stated.
Kazakhstan plans to build its first nuclear power plant near Lake Balkhash. The plant is expected to begin operations in the mid-2030s.
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