The construction of the first Balkhash nuclear power plant in Kazakhstan with Russia's participation is creating a new economic cluster. Russian Ambassador to Astana Alexei Borodavkin noted that the project will give impetus to the development of the construction and transport industries, medicine, services and the economy as a whole, and will also strengthen integration economic ties between the countries.
Local resources will be used to operate the plant, including Kazakh uranium, as well as specialists — scientists and engineers trained by the branch of the Russian National Research Nuclear University MEPhI. This will create a comprehensive infrastructure and jobs, forming a new cluster of the national economy of Kazakhstan.
In 2025, the authorities of Kazakhstan announced that Rosatom would head the consortium for the construction of the nuclear power plant. The plant is planned to be located in the village of Ulken, Almaty region, near Lake Balkhash, after which the plant got its name.