During a recent briefing, Omonov detailed the government's ongoing negotiations with both foreign and local banks to finance the construction of a low-capacity nuclear power plant. According to him, various European and Russian banks, as well as local financial institutions, are involved in the discussions. The proposals from these banks are being coordinated with the Ministry of Economy and Finance, as well as the Central Bank.

Under the strategic agreement with the Russian state nuclear corporation, Rosatom, several contracts have been signed concerning the construction of the nuclear plant, personnel training, fuel procurement, operational management, and the disposal of nuclear waste.

"Many foreign companies have expressed reluctance regarding the recent agreement on the removal of spent nuclear fuel. We have reached an understanding with Rosatom that the spent nuclear fuel will be transported back to Russia for reprocessing, with some essential components returned to Uzbekistan," Omonov explained.

The project aims to use locally sourced uranium, which will be enriched to 19% or up to 20% of uranium-235 oxide in Russia. "This fuel will be imported, but it will be produced based on reprocessed local Uzbek uranium. This means that Uzbek uranium will be exported, processed, and the fuel will be manufactured before being returned. We anticipate that the availability of local uranium will significantly reduce fuel costs," Omonov added.

The director emphasized that the nuclear power plant will be state-owned. "This facility will be entirely owned by the Republic of Uzbekistan and managed by a local company. Currently, operational responsibilities have been delegated to the Directorate, which will be overseen by a state-owned company holding the necessary operational license," he stated.

Azim Ahmadkhodjayev, director of the Uzbekistan Atomic Agency, indicated that plans are underway to explore the construction of small-capacity nuclear power plants in various regions of the country. A preliminary assessment of 14 potential sites for these facilities has already been conducted.

"Further studies will be conducted to develop small reactors across the republic. This assessment will be based on both local and international regulatory frameworks, as well as documentation regarding site selection for nuclear power plants," Ahmadkhodjayev remarked at a conference on October 15.