Kazakhstan has estimated the capital cost for constructing the nuclear power plant to be between $10bn and $15bn, according to Timur Zhantikin, General Director of Kazakhstan Nuclear Power Plants. After a government meeting, Zhantikin noted that while the exact cost is not yet confirmed due to the project still being in the planning stages, preliminary overnight cost data has informed financial and economic models suggesting this range.

Zhantikin emphasized that the project will be funded commercially without relying on national budgetary funds. “We are not considering budgetary financing; the project is structured commercially, which typically incurs additional costs,” he explained.

He also referenced a similar project in Belarus, where a nuclear power plant was built under an intergovernmental agreement with Russia and financed for $10bn. However, the actual cost was $7bn.

Kazakhstan’s Energy Minister, Almasadam Satkaliyev, added that the electricity produced by the Turan nuclear power plant is expected to be more cost-effective than current peak-hour energy purchases. He further projected a reduction in coal’s share of the country’s energy mix from 70% today to less than 30% by 2035.

The nuclear power plant is planned for completion within 8-10 years, marking a significant step in Kazakhstan’s evolving energy landscape.