Russia Signs $16.5 Billion Kazakhstan Nuclear Plant Deal as Rosatom Wins 2-Reactor Project
Updated
Updated · Fox News · May 28
Russia Signs $16.5 Billion Kazakhstan Nuclear Plant Deal as Rosatom Wins 2-Reactor Project
12 articles · Updated · Fox News · May 28
$16.5 billion will fund Kazakhstan’s first commercial nuclear power plant under a deal signed by Russia and Kazakhstan in Astana, with Rosatom leading construction near Lake Balkhash.
85% of the project cost will be covered by a Russian export loan, advancing Moscow’s push to retain economic influence in former Soviet states while under Western sanctions.
Two VVER-1200 Generation III+ reactors are planned, with construction due to start in 2027 and the first unit targeted to begin operating in early 2034.
Kazakhstan is pursuing the plant to ease chronic power shortages and reduce reliance on aging coal infrastructure, despite public unease rooted in Soviet-era nuclear testing and Chernobyl fallout.
Rosatom beat bidders from China, France and South Korea for the mandate, and the two countries also signed a ruble-tenge currency swap agreement.
Can a nation scarred by Soviet nuclear tests now trust Russia to build its atomic future?
Is Kazakhstan's nuclear plant a path to energy freedom or deeper Russian control?
Kazakhstan’s First Nuclear Power Plant: $15 Billion Project Reshapes Energy, Economy, and Geopolitics
Overview
Kazakhstan has taken a major step by reaching an agreement to build its first nuclear power plant, following a national referendum in October 2024. This project is designed to boost the country’s energy security and economic growth, while also strengthening scientific, educational, and technological cooperation. The nuclear plant is expected to make a significant contribution to Kazakhstan’s energy supply, support the development of related industries, and help diversify the nation’s energy mix. By embracing nuclear power, Kazakhstan aims to address its growing energy needs and support long-term sustainable development.