The construction of an integrated nuclear power plant (NPP) in Uzbekistan will cost up to $9.5 billion, according to Azim Akhmedkhodjaev, director of the Atomic Energy Agency under the Cabinet of Ministers (Uzatom), who announced this in an interview on June 4.
He noted that earlier media had raised questions about the project's cost and the high price of small nuclear reactors. The head of Uzatom stated that, on the president's initiative, a format was chosen to place two small and two large reactors on a single site, sharing common infrastructure. This approach, he claimed, allows for cost optimization.
"According to the contract we signed [on March 24, 2026], our base price is $9.5 billion. This is the total, maximum amount," said Azim Akhmedkhodjaev. He clarified that this sum does not include the localization level, which is planned to reach 30%. This involves attracting local manufacturers and should further reduce the project cost.
To finance construction, Uzbekistan will soon negotiate with the BRICS New Development Bank, which has expressed interest in participating in the project. Talks are also underway with other countries. Akhmedkhodjaev emphasized that a certain portion of the project will be reserved from the state budget, but it will mainly be implemented through credit funds.
"We plan to attract 85-90% [of the project cost] in the form of credit funds. According to our calculations, conducted jointly with international partners from the Big Four, if such an amount is invested in the project, its budget effect will exceed $165 billion. Related services will emerge, and tax revenues will begin to flow. Therefore, this project is considered extremely efficient," said the head of Uzatom.
In March 2025, Akhmedkhodjaev had announced that the cost of a small NPP in Uzbekistan would be below $2 billion. At that time, a plant with six reactors (each 55 MW) totaling 330 MW was planned. He then stated that the project would be financed through external investments and China's concessional loans, without attracting Russian funds.
In late September last year, Uzbekistan and Russia signed documents changing the configuration of the future NPP in the Farish district of Jizzakh region. The project includes four power units on one site: two with VVER-1000 reactors (1 GW each) and two with RITM-200N reactors (55 MW each). There is no analogue to such placement in the world.
The simultaneous placement of small and large reactors is expected to yield "the most cost-effective option in terms of MW/s." In October, Abdujamil Kalmuratov, director of the NPP construction directorate, stated that the cost of the small NPP project would not exceed $1 billion, with the final amount to be fixed in the contract. He also emphasized that construction would be financed from the state budget: "Yes, this is the state budget. The state is building it, this is a fully Uzbek project. The source of financing is our own budget. The nuclear project must be national."
Source: www.gazeta.uz