State-owned Russian nuclear power company Rosatom and its Kazakh counterpart, Kazatomprom, signed a memorandum of understanding last Thursday to cooperate in constructing a nuclear power plant in Kazakhstan.
The deal, signed in the presence of Russian President Vladimir Putin and Kazakh President Nursultan Nazarbayev during a session of the Supreme Eurasian Economic Council in Astana, stipulates that the plant will have an installed capacity of 300-1,200 megawatts based on Russian-designed water-moderated reactors in the Kazakh city of Kurchatov, RIA Novosti reports.
The plant will be the first constructed in Kazakhstan after the BN-350 nuclear reactor was shut down in 1999. The agreement calls for the provision of nuclear fuel supplies, including production and/or processing, in Kazakhstan, which supplies more than one-third of the world's uranium.
Rosatom CEO Sergei Kiriyenko said construction of the plant is expected to cost approximately $5 billion, and plans for development may take up to a year and a half for completion, according to Tengri News.
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