Balakovo, city, Saratov oblast (province), southwestern Russia, on the left bank of the Volga River. Founded in 1762, it long remained a small agricultural town. Its growth was greatly stimulated by the construction in 1967–70 of the Saratov hydroelectric station on the Volga. Balakovo is also the site of construction of a nuclear power station. A major chemical industry, developed in the 1960s and expanded in the 1980s, produces cord for tires, sulfuric acid, superphosphates, and carbon bisulfide. Local industries also produce marine and stationary diesel engines, construction materials, and foodstuffs; the city has facilities for ship repair. Pop. (2006 est.) 199,187.