Kazakhstan chairs first meeting of OTS Central Banks Council
President of Kazakhstan Kassym-Jomart Tokayev chaired the first OTS Central Banks Council meeting in Astana, calling for greater financial cooperation amid global economic shifts.
Kazakhstan is looking to learn from China’s experience in nuclear and water-environmental safety. This was a major topic during talks about Kazakhstan’s first nuclear power plant.
Kazakhstan expressed interest in studying China’s experience in ensuring nuclear and water-environmental safety at all stages of the project implementation. The Chairman of the Atomic Energy Agency of Kazakhstan met with the Deputy Minister of Ecology of China and Head of the National Nuclear Safety Administration. The parties discussed prospects for cooperation in the nuclear energy sector, particularly the country’s first nuclear power plant project, the development of the nuclear fuel cycle, and the strengthening of the scientific and technical base.
Currently, preparations for construction are actively underway - a shortlist of potential technology suppliers has been formed, which includes four international corporations: China’s CNNC with its reactor, Russia’s Rosatom, South Korea’s KHNP, and France’s EDF.
The first Kazakh nuclear power plant, with a capacity of 2.4 gigawatts, is planned to be built in Almaty region. New power transmission lines will be required to connect the plant to the power grid. The project may be financed through export credits and loans from international financial organizations.
The decision on the choice of the partner company is expected before the end of the first half of the year. Initially, this was planned for the end of 2022, but the dates have been postponed several times. The final decision was delayed until after the republican referendum held in October 2024 - more than 71 percent of Kazakhstanis supported the construction of the nuclear power plant.
According to preliminary estimates by Li Yudong, Deputy Chief Representative of the Chinese National Nuclear Corporation, the cost of one 1.2 gigawatt power unit may amount to about $2.73 billion. Accordingly, if the construction is entrusted to China’s CNNC, the total cost of the two-unit station will reach approximately $5.47 billion. The project is expected to take about five years to complete, with the nuclear power plant scheduled to be commissioned in 2035.
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