Kathrine Frich
Energy independence is a complicated puzzle for developing nations.
Finding the right partner to fund massive infrastructure projects often leads to controversial alliances. One major uranium producer is finally ready to tap into its own natural resources.
Sealing the deal
A massive energy agreement finalized between two neighboring nations will soon change the regional power grid. Russian and Kazakh officials signed paperwork to construct a new nuclear power plant in Central Asia.
President Vladimir Putin and Kazakh President Kassym-Jomart Tokayev finalized the historic deal on Thursday.
According to official statements cited by Moscow Times, this marks the first time the republic will build a nuclear facility since the fall of the Soviet Union.
A heavy investment
During the important talks in Astana, Tokayev publicly expressed his gratitude to Putin for supporting the massive energy initiative.
Kazakhstan currently reigns as the top uranium producer in the entire world.
However, the country has not generated its own nuclear energy in three decades after dismantling older Soviet reactors.
Under the new plan, Astana expects Russia to cover a staggering 85 percent of the financial costs.
Winning the bid
The massive nuclear project is currently scheduled for completion and commissioning sometime around 2035 or 2036.
Workers will build the new plant near the partially abandoned village of Ulken in the southeastern region.
The site sits directly next to Lake Balkhash, which ranks as the second largest lake in the nation.
A consortium led by the Russian state nuclear corporation Rosatom officially secured the massive construction contract.
Crushing the competition
According to project details, Rosatom beat out several major international competitors to win the lucrative bid.
Other bidders included the China National Nuclear Corporation, the French company EDF, and Hydro and Nuclear Power from South Korea.
Voters in Kazakhstan originally approved the construction of the controversial plant during a nationwide referendum in 2024.
The new nuclear agreement highlights a much deeper financial and political relationship between the two countries.
Billions in trade
On Thursday, Tokayev praised the “strategic partnership and allied relations” shared by the neighboring nations.
The two leaders signed a joint document highlighting the “seven pillars of friendship and good-neighborliness.”
Putin mentioned that his delegation had already discussed “many important and promising areas of our cooperation” on Wednesday evening.
According to the Kremlin, Tokayev estimated the two nations share 177 joint projects worth 53 billion dollars, with 122 already fully operational.
Sources: Kremlin.ru, Moscow Times
