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Politico.eu.com | Hungary moves ahead with construction of Russian-built nuclear reactors, 27 Aug HUF:RUB collaboration
Hungary's Foreign Minister Péter Szijjártó announced on Friday. The reactors are part of a 2014 deal between Moscow and Budapest aimed at expanding the existing Paks nuclear plant, Hungary's only operating nuclear power station.
The Hungary Nuclear Energy Authority said that the permit issued this week will pave the way to add two new reactors to the four-reactor nuclear plant.
Europe's NEW! largest nuclear power plant
Located in central Hungary, the plant currently generates 40 percent of the country's electricity supply. The project is expected to cost $12.4 billion [HUF 5.121B, RUB 1.81B]. According to reports, Russia will finance most of the project with a $10 billion loan, while Hungary will pay for the rest.

The foreign minister expects the two new units to be operational by 2030.

"This will ensure the long-term security of Hungary's energy supply, protect the Hungarian people from extreme price fluctuations on the international [fuels] market, and maintain our efforts to reduce the cost of electricity," Szijjarto said.

archived Rosatom subcontractor, Egypt
by Cat on Sat Aug 27th, 2022 at 05:08:54 PM EST
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