Russia And Kazakhstan Sign $16.5 Billion Nuclear Plant Deal
On Thursday, May 28, 2026, Russia and Kazakhstan signed a $16.5 billion agreement to build a nuclear power plant in Astana, a pact that cements Russian involvement in Kazakhstan's energy sector.[1]
State nuclear firm Rosatom will build the plant near the village of Ulken on Lake Balkhash, with about 85% of the costs covered by a Russian export loan.[1] The facility will use two VVER-1200 Generation III+ reactors, with construction slated to begin in 2027 and the first unit expected online by early 2034.[1]
A 2024 national referendum in Kazakhstan approved development of the Balkhash nuclear site despite public sensitivities over Soviet-era nuclear testing. The vote cleared a legal and political hurdle and enabled formal agreement on financing and construction.
The deal binds Kazakhstan to a long, Russia-led construction schedule and large Russian financing exposure, and it marks a major strategic and economic step as the two countries move from approval toward on-the-ground work.
Show source details & analysis (1 source)
📌 Key Facts
- On Thursday, May 28, 2026, Russia and Kazakhstan signed a $16.5 billion nuclear power plant agreement in Astana.
- Rosatom will build the plant near the village of Ulken on Lake Balkhash, with a Russian export loan funding about 85% of costs.
- The plant will use two VVER-1200 Generation III+ reactors, with construction planned to begin in 2027 and the first unit operating by early 2034.
- A 2024 national referendum in Kazakhstan approved development of the Balkhash nuclear site, despite public sensitivities over Soviet-era nuclear testing.
📰 Source Timeline (1)
Follow how coverage of this story developed over time