🍎 🍕 Less apples, more pizza 🤔 Have you seen Buffett’s portfolio recently?Explore for Free

Kazakhstan votes in favour of nuclear power plant construction, exit poll shows

Published 2024-10-05, 11:05 p/m
© Reuters. A car drives near an electrical substation outside the village of Ulken on the eve of the referendum on the construction of a nuclear power plant, in the Almaty Region, Kazakhstan October 5, 2024. The village of Ulken was selected as the most preferred lo

ULKEN, Almaty region, Kazakhstan (Reuters) -Kazakhstan voted in a referendum on Sunday on whether to build its first nuclear power plant, and an exit poll showed voters backed the idea promoted by President Kassym-Jomart Tokayev's cabinet as a way to phase out polluting coal plants.

The plan has faced public criticism due to concerns about related hazards, the Soviet nuclear testing legacy, and fears that Russia will be involved in the project.

Almost 64% of registered voters cast their ballots by 8 p.m. local time (1500 GMT) when the polling stations closed, the Central Election Commission said, making the vote valid.

The Commission will announce preliminary results on Monday but an exit poll of about 284,000 voters showed 69.8% of them voted in favour of the plan, local pollster SOCIS-A said hours after the vote ended.

"I have come to the conclusion that the decision to build the nuclear power plant, and to build it with (Russian state nuclear firm) Rosatom, has already been made in (Tokayev's office) and the people of Kazakhstan are being invited to polling stations as 'notaries' to authenticate this decision with their votes," popular blogger Vadim Boreiko wrote.

In the village of Ulken on the shores of Lake Balkhash, in the southeast of the country, which the cabinet has designated as the site to build the plant, some locals hoped the project would bring jobs. Others expressed concern about the impact on the quality of the lake water.

"I support the power plant," said Dametken Shulgeyeva, who has lived in the village of 1,200 people for more than 20 years. "This is our future."

Despite its sizeable natural gas reserves, the Central Asian nation of 20 million relies mostly on coal-powered plants for its electricity, supplemented by some hydroelectric plants and the growing renewable energy sector.

Kazakhstan already imports electricity, mostly from Russia, as its facilities, many of which are old, struggle to meet domestic demand. And coal is regarded as the most polluting energy source.

SOVIET LEGACY

The government says a reliable energy supply is needed to supplement renewable sources such as solar and wind power, and, since Kazakhstan is one of the world's biggest uranium producers, nuclear power is a logical choice.

"In order not to remain on the sidelines of global progress, we must use our competitive advantages," Tokayev said ahead of the vote.

The former Soviet republic, however, does not enrich uranium to the point where it can be used as fuel. The cabinet estimates that a nuclear power plant would cost $10 billion-$12 billion to build and expects contractors to secure the financing.

Critics say the same goal could be achieved with gas-powered plants which, although they still use fossil fuel, are much less polluting than coal plants and come with less risk.

Kazakhstan was part of the Soviet Union in 1986 when the Chornobyl nuclear disaster occurred, and tens of thousands of Kazakhs took part in the subsequent clean-up operation that left many with lifelong health issues.

The country was also the site of hundreds of Soviet nuclear weapon tests which have made swathes of land uninhabitable, led to disease among people in nearby areas, and have made many people distrustful of anything nuclear.

© Reuters. People cast their votes during a referendum on the construction of a nuclear power plant, at a polling station in the village of Ulken in the Almaty Region, Kazakhstan October 6, 2024. REUTERS/Pavel Mikheyev

Tokayev, who publicly cast his vote in the capital Astana told reporters he had no single country or company in mind as a potential contractor.

"My personal vision on this matter is that an international consortium would need to work in Kazakhstan made up of global companies that possess the most advanced technologies," he said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.