Kazakhstan plans to allocate 818.3 billion tenge (about $1.7 billion) from the national budget over the next three years for the construction of the first nuclear power plant. This was reported by Qazaqyia.kz citing Kursiv Media.

According to the draft budget for 2027-2029, the funds will be contributed to the charter capital of Kazakhstan Nuclear Power Plants LLP in three tranches: 247.9 billion tenge in 2027, 303.1 billion in 2028, and another 267.3 billion in 2029.

The administrator of the budget program is the Agency of the Republic of Kazakhstan for Atomic Energy. Taking into account its two other programs, the maintenance of the apparatus (2.8 billion tenge per year) and the program "Development of Atomic and Energy Projects" (101.2 billion tenge over three years), the agency's total budget amounts to 927.9 billion tenge.

Injections into the capital of KNPP are not classified under the "Expenditures" section but under Section IV of the budget — "Balance of operations with financial assets." That is, they are not included in the expenditure figure of the national budget of 30.2 trillion tenge for 2027 as current spending, although they are financed from the same deficit and, accordingly, from borrowings.

The total volume of financial asset acquisitions over three years is 1.45 trillion tenge. The share of the NPP in this: 2027 — 247.9 billion out of 871.8 billion (28.4%); 2028 — 303.1 billion out of 316.7 billion (95.7%); 2029 — 267.3 billion out of 269.4 billion (99.2%).

In other words, by 2028-2029, state investments in the capital of quasi-state structures are reduced to almost a single project. For comparison, the entire program for the development of heat supply systems over the same three years is allocated 92.6 billion tenge, and for the development of heat and electric power — 104.5 billion.

Appendix 7 to the draft law contains a list of target indicators and final results for each budget program. The Agency for Atomic Energy lists only program 002 "Development of Atomic and Energy Projects" — with indicators such as the level of scientific productivity in the field of atomic science (3% in 2027, 3.13% in 2029) and the share of surveyed radiation risk areas.

Program 004 "Increase in the charter capital of KNPP" for 818.3 billion tenge, the largest in the agency, is not listed in Appendix 7 at all. Neither target indicators nor final results. At the same time, the explanatory note to the draft law directly states: "Each direction of expenditures is provided with final performance indicators fixed in the passports of budget programs."

The first NPP is being built near the village of Ulken on the southern shore of Lake Balkhash, the project is named "Balkhash." It consists of two VVER-1200 power units with a total capacity of 2.4 GW, with the general contractor being Rosatom, which heads the consortium. Research work at the site began in August 2025, concrete pouring into the foundation, according to the head of the Agency for Atomic Energy Almasadam Satkaliyev, may begin in 2029, and the plant's launch is expected in 2035-2036.

In May 2026, Satkaliyev estimated the total project cost at $16.4 billion, including about $2 billion for the physical protection system and social infrastructure. Earlier, in April, he reported that financing is structured on an 85-to-15 formula: the larger part is covered by Russia's interstate export credit, the rest by the Kazakh government. At a cost of about $15 billion, this meant a credit of approximately $12.75 billion and the republic's own contribution of about $2.25 billion.

Against this backdrop, 818.3 billion tenge in budget injections over three years look like the main part of Kazakhstan's co-financing — especially since the money will go before the start of major construction work.

The first NPP in Kazakhstan is being built using the most modern Russian VVER-1200 project, while Uzbekistan uses previous-generation VVER-1000 reactors, and comparing the cost of the two projects has already raised questions. KNPP CEO Yernat Berdigulov explained in June that projects in different countries cannot be directly compared: the price is influenced by reactor technology, block configuration, regulatory requirements, geology and climate, and in the Kazakh case, the estimate also includes external engineering infrastructure, personnel training, physical protection, and the purchase of nuclear fuel for the first period of operation.

Today, September 3, 2026, it became known that a contract for the design and construction of the first NPP in Kazakhstan was signed between Kazakhstan Nuclear Power Plants LLP and Atomstroyexport JSC, a subsidiary of the State Atomic Energy Corporation Rosatom.

The Balkhash station is not the only nuclear project. A second NPP with the working name "Moyynkum" is also planned to be located on Balkhash, with Chinese CNNC considered as the priority partner.

Satkaliyev also mentioned more distant sites — Kurchatov in the Abai region, Aktau, where the BN-350 reactor previously operated, and Kostanay, where a station could appear in 20-30 years.