Kazakhstan and Russia have signed an agreement on cooperation in the construction of the country's first nuclear power plant (NPP). The project is valued at $16.5 billion. Financing is planned to be secured through a Russian export credit.
WHAT CONDITIONS WERE ANNOUNCED BY THE AUTHORITIES
According to Chairman of the Atomic Energy Agency, Almassadam Satkaliyev, this involves a "long-term loan" on favourable terms for Kazakhstan.
Satkaliyev stated that the preliminary cost of the project is approximately $16.5 billion. This sum includes the costs of building two power units, as well as infrastructure. Around $2 billion of the total amount, he said, is allocated for the physical protection system and social infrastructure.
He noted that financing will be provided under agreements of the Kazakh government, with the participation of the Atomic Energy Agency, through an export credit.
WHEN WILL CONSTRUCTION OF THE NPP BEGIN
According to Almassadam Satkaliyev, work on the project has already effectively begun. Engineering surveys are currently underway.
The direct construction of the NPP, as reported by the head of the agency, will start in 2027. The commissioning of the first power unit is expected in 2034.
WHO SIGNED THE AGREEMENT
The agreement on the basic principles of cooperation in the construction of the first NPP in Kazakhstan was signed by Chairman of the Atomic Energy Agency, Almassadam Satkaliyev and Director General of the Russian state corporation Rosatom, Alexei Likhachev.
The document was signed during the state visit of Russian President Vladimir Putin to Kazakhstan.
According to the text of the agreement, the document establishes the basic conditions for interaction between the parties in the implementation of the NPP project, as well as the mechanisms for financing the construction through a Russian export credit.