How will Kazakhstan finance its NPP, explains Vice Minister

Tengrinews.kz - Vice Minister of National Economy Arman Kassenov was asked what funds will be used to finance the construction of a nuclear power plant (NPP) in Kazakhstan.
As the Vice Minister emphasized, the NPP construction project is no different from any other commercial project.

"First, the supplier is determined, then the project is structured. Work will be carried out to clarify the project itself, the technologies, the cost. At this stage, all these questions are open, because there is no decision on them. As soon as it is known, we will immediately be able to determine at whose expense the financing will be provided," Kassenov said.

According to him, when using foreign equipment in construction, credit mechanisms from export credit agencies are possible.

"That is, when you buy equipment from China, there is ‘China Exim Bank,’ which supplies financing. In Germany, such an agency is ‘Hermes,’ in America it is ‘Exim Bank.’ They can be potential suppliers of financing. International development institutions can be potential suppliers," the Vice Minister said, answering a journalist's question.

Kassenov emphasized that projects in the energy sector are traditionally attractive to investors and are considered low-risk.

"Therefore, in general, the world considers projects in the electric power industry and in the housing and utilities sector to be low-risk. There is no doubt that financing will be found and it will be on attractive terms," ​​the vice minister concluded.

Earlier, the construction site of the nuclear power plant was officially approved in Kazakhstan. The corresponding decree was signed by Prime Minister Olzhas Bektenov.