Russia-Kazakhstan Nuclear Deal: $16.5B Balkhash Plant
Russia and Kazakhstan sealed a $16.5 billion agreement to build the Balkhash Nuclear Power Plant, led by Rosatom, with an export loan covering about 85% of the cost. The two VVER-1200 Gen III+ reactors are planned at the Balkhash site, construction set to begin in 2027 and the first unit expected online by 2034, aiming to stabilize Kazakhstan’s energy supply and deepen Moscow’s economic and geopolitical influence in the region.