Russia, China to Lead Construction of Two Kazakh Nuclear Plants
(Bloomberg) -- Kazakhstan has selected Russia’s Rosatom to lead a consortium for the construction of its first nuclear power plant. The China National Nuclear Corp. expected to be lead a group to build a second atomic facility.
The Russian proposal emerged as the most competitive among contenders that included the Chinese company as well as Électricité de France and Korea Hydro & Nuclear Power, Kazakhstan’s nuclear power agency said in a press release.
China’s CNNC is expected to lead construction of a second plant, agency spokesman Shyngys Ilyasov said Saturday, noting that a formal decision hasn’t been made.
The Central Asian nation is the world’s top uranium producer. Its atomic energy agency said it will collaborate with other international partners to establish a consortium for the project. Kazakhstan has begun working with Rosatom on securing state-backed export financing from Russia, the agency said.
The country voted to proceed with the construction of a nuclear power plant in an October referendum. Kazakhstan hasn’t used nuclear power since 1999, but growing energy demand driven by the crypto industry and aging infrastructure has led to recurring power shortages.
(Updates with China’s CNNC from first paragraph.)
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