Russia and Kazakhstan Sign Nuclear Plant Construction Agreement
Russia and Kazakhstan signed agreements on May 28 covering construction and financing for Kazakhstan's first nuclear power plant. The project is estimated at $16.4 billion, with Moscow expected to provide 80-85 percent of the cost through state-backed export financing.
naturalnews.comRussia and Kazakhstan signed agreements covering the construction and financing framework for Kazakhstan's first nuclear power plant at Lake Balkhash. The agreements were signed on May 28 during a state visit by Russian leader Vladimir Putin to Kazakhstan. They address the basic principles and conditions of cooperation for the project.
Moscow is expected to provide roughly 80-85 percent of the project's estimated $16.4 billion cost through state-backed export financing, although loan terms remain undisclosed. Kazakh officials announced almost a year ago that Russia's nuclear energy entity, Rosatom, would build the plant on the shores of Lake Balkhash.
Kazakhstan's leadership continues to balance energy and economic cooperation with Russia against concerns about dependence on a powerful neighbor facing growing financial pressures.
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