Kazakhstan is advancing plans to build its first nuclear power plant, with Russia set to finance the bulk of the project through a major interstate loan.

Head of Kazakhstan’s Atomic Energy Agency Almassadam Satkaliyev said that Russia will cover 85% of the construction costs, while the remaining 15% will be funded by the Kazakh government. The agreement framework is currently being developed at the intergovernmental level, The Caspian Post reports via Turkish media.

The project, estimated at around $15 billion, will be implemented with the participation of Rosatom and will include two reactor units, each with a capacity of 1,200 MW.

The first nuclear facility, known as the Balkhash plant, is planned near the village of Ulken on the shores of Lake Balkhash. Construction is expected to take approximately 11 years, with completion targeted for 2035-2036. Preliminary research at the site began in August 2025.

Kazakhstan is also planning a second nuclear power station, tentatively named “Moyinkum,” which will also be located near Lake Balkhash. For this project, China is being considered as a key partner.