Russia to grant loan to Kazakhstan to cover 85% of NPP construction cost - Kazakh Atomic Energy Agency head

ASTANA. April 21 (Interfax) - Russia will finance 85% of the construction costs of a nuclear power plant (NPP) in Kazakhstan through a loan, while the Kazakh government will cover the remaining 15%, Kazakh Atomic Energy Agency head Almasadam Satkaliyev said.

"There will be no problems with financing our NPP. A formula has been worked out under which the Russian Federation will provide an interstate loan to the government of the Republic of Kazakhstan," Satkaliyev told reporters in Astana on Tuesday.

The corresponding intergovernmental agreements are being finalized, he said.

"It will be an interstate loan. Two intergovernmental agreements are being drafted - one on the construction of the nuclear power plant and the other on financing from the Russian side. Financing from the Russian Federation is being considered, where Russia will provide 85% of the funding in the form of a loan, while the remaining 15% would be financed by the Kazakh government," he said.

The cost of building an NPP with Rosatom's participation is estimated at around $15 billion for two 1,200 MW reactor units, Satkaliyev said.

Kazakhstan plans to build several nuclear power plants. Rosatom will build the first one, the construction of which will take approximately 11 years and may be completed in 2035-2036. Prospecting began near Ulken in the Balkhash area on August 8, 2025. The name of the first plant is the Balkhash NPP.

The second plant, under the working name Moyinkum, will also be located in the Balkhash area. Kazakhstan is considering the China National Petroleum Corporation (CNPC) as a priority partner for this project.