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.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme