Russia and Kazakhstan signed an agreement on the construction of Kazakhstan’s first nuclear power plant

Russia and Kazakhstan signed an agreement on the construction of Kazakhstan’s first nuclear power plant

¨  Russia and Kazakhstan signed an agreement on 28 May 2026 for the construction of Kazakhstan’s first nuclear power plant.

¨     The project is estimated to cost about US$16.5 billion.

¨     Russia is expected to finance approximately 85% of the project through an export loan.

¨     Rosatom, Russia’s state nuclear corporation, will lead the project.

¨     The plant will use two VVER-1200 III+ nuclear reactors.

¨     The facility will be built in Ulken on the shores of Lake Balkhash in south-eastern Kazakhstan.

¨     The VVER-1200 is a pressurised water reactor (PWR) design used in Russia and several international nuclear projects.

¨     The III+ designation refers to a Generation III+ reactor class equipped with enhanced safety systems.

¨     Construction is expected to begin in 2027.

¨     The first reactor is projected to be commissioned in early 2034 or during the mid-2030s.

¨     Kazakhstan has set a target of achieving 2.4 gigawatts of nuclear power capacity by 2035.

¨     Kazakhstan is the world’s largest producer of uranium.

¨  On 14 May 2026, Kazakhstan approved a plan to increase domestic participation in the nuclear industry to 30% before construction begins.

¨     The plan aims to generate US$4–4.5 billion through local production and contracts.

¨     A 2024 referendum in Kazakhstan recorded 71% public support for the construction of a nuclear power plant.