India, May 28 -- Russia has expanded its strategic influence in Central Asia after signing a landmark agreement with Kazakhstan to construct the country's first atomic power plant since the Soviet Union collapsed.

The project, backed heavily by Moscow, will see Russia finance and build the Balkhash Nuclear Power Plant near Lake Balkhash in southeastern Kazakhstan. The agreement was finalised during Russian President Vladimir Putin's official visit to Astana, where both countries also discussed oil exports, regional partnerships and long-term economic cooperation.

Kazakhstan says the nuclear project will help solve future energy shortages, reduce dependence on coal and modernise the country's power infrastructure over the next decade.

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