Uzbekistan May Attract Russian Loan for Nuclear Plant

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan does not rule out the possibility of attracting Russian financing for the construction of an integrated nuclear power plant in the Djizak region, according to Azim Akhmedkhadzhayev, Director of the Agency for Atomic Energy under the Cabinet of Ministers (Uzatom), in an interview reported by Spot.

Responding to questions about a potential Russian state export loan, Akhmedkhadzhayev said the final decision would depend on the financing terms offered.

“We first look at the lending conditions. If we are offered favourable, competitive and concessional terms, then why not,” he said.

He noted that one of the key priorities is to optimize the cost structure of the nuclear power plant project, both through favourable financing and a high level of localization of works.

“This will allow us to optimize our cost parameters,” he added.

According to Akhmedkhadzhayev, the estimated ceiling cost of the integrated nuclear power plant is US$9.5 billion. Uzbekistan plans to hold talks with the New Development Bank of the BRICS, which has already expressed interest in participating in financing the project. Consultations are also underway with other potential partners.

Part of the project financing is expected to come from state funds, while the majority—up to 85–90%—will be covered by external loans.

In September 2025, Uzatom and Rosatom agreed on a revised configuration of the nuclear power project in Uzbekistan.

The updated design includes two large power units based on VVER-1000 Generation 3+ reactors and two small modular units with RITM-200N reactors of 55 MW each.

The total capacity of the integrated plant is expected to exceed 2.1 GW, including 2 GW from the large-scale facility and 110 MW from small nuclear generation.

Preparatory excavation works for the first small reactor unit began in the Djizak region in October last year, while initial concrete works for the reactor foundation started in March this year.