When operational, the power plant is estimated to meet around 10 percent of Turkey's electricity demand, which equals to the power consumption of Istanbul, Turkey's largest metropolis.
Iran and Russian Federation, which support the Syrian government in the crisis, and Turkey, which backs the moderate opposition, have been in close cooperation through a series of talks aimed at finding a solution to the Syrian conflict since past year.
At present, there are 450 nuclear power plants in 31 countries, while 55 plants are under construction around the world.
The two presidents will hold a video teleconference with the power plant for the opening ceremony.
"We are speeding up production, and we have finalized the prices, which is very important", Putin said, while standing next to Recep Tayyip Erdogan.
This will be the first such object to be built in Turkey.
Turkish President Recep Tayyip Erdogan said Tuesday that his country's plan to purchase Russia's long-range missile defense system is a "done deal", brushing aside concerns from some North Atlantic Treaty Organisation allies.
Earlier on Tuesday, Erdoğan and Putin participated in the groundbreaking ceremony for Turkey's first nuclear power plant in Akkuyu.
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The Akkuyu plant, comprising four reactors, each with a capacity of 1,200 megawatts, will be built by the Russian State Nuclear Energy Agency, Rosatom.
Turkey and Russian Federation have forged burgeoning ties in recent months on a number of areas including energy as well as the Syrian crisis, despite differences on key policy areas. The three countries are sponsoring a series of negotiations to end the seven-year-long war.
"This is completely a new step, a new step towards the development of Turkey's economy", the Russian president said.
Russian Federation and Turkey are also building the TurkStream gas pipeline under the Black Sea that will allow Moscow to pump gas to Europe avoiding Ukraine and increase Turkey's importance as a transit hub.
Russian Federation and Turkey along with Iran are also working together to create "de-escalation zones" to reduce the fighting in Syria and bring the sides of the conflict together to negotiate Syria's future.
TurkStream, which dates back to 2014 but was delayed due to the downing of the jet crisis, is a pipeline project that will bring Russian natural gas to Turkey through pipelines running beneath the Black Sea.
Turkey signed an agreement to buy the S-400 system in late December in a move which raised concern in the West because it can not be integrated into NATO's military architecture.