Russia to Fund Kazakhstan Nuclear Plant

Russian President Vladimir Putin is expected to oversee the signing of an agreement to build a new nuclear power plant during a visit to Kazakhstan. The project will determine the plant’s key technical parameters and financing, with the Kremlin saying Russia will provide up to 85% of the cost through a state export credit.

Kazakhstan, one of the world’s largest uranium producers, currently generates most of its electricity from coal and has not operated its own nuclear power plant since the BN-350 reactor was shut down in 1999.

The country aims to build 2.4 gigawatts of nuclear capacity by 2035 following a referendum held in 2024. The new plant is expected to become operational between 2035 and 2036.

During the visit, Putin is also expected to discuss increasing the transit of Russian oil to China through Kazakhstan.

Moscow agreed last year to expand exports via the Atasu-Alashankou pipeline, although the planned increase in supplies has yet to materialize, according to available data.

(reuters, mja)