Russia To Give Kazakhstan Loan For First Nuclear Power Plant

Russia will provide Kazakhstan with a loan for the construction of its first nuclear power plant, Orda.kz reports.

Almasadam Satkaliyev, chair of Kazakhstan’s Atomic Energy Agency, said on the sidelines of Akorda that it will be a long-term loan on favorable terms for Kazakhstan.

Very favorable for Kazakhstan in terms of its parameters. This is the responsibility of Kazakhstan’s Finance Ministry. We are talking about quite large amounts of funding. In total, taking into account infrastructure construction, the initial estimate is about $16.5 billion directly for two units. About $2 billion of this amount will be spent on the physical security system and social infrastructure. This is a very serious amount of financing, which, by agreement of the Government of Kazakhstan and with the participation of the Atomic Energy Agency, will be provided through an export loan,Satkaliyev said.

According to him, the entire project is estimated at $16.5 billion. The amount of the Russian loan has not been named.

Satkaliyev said the work has already “practically started,” with engineering surveys underway.

Direct construction of the nuclear power plant is expected to begin in 2027. The agency expects the first unit to be commissioned in 2034.

Original author: Ilya Astakhov

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