Putin Promises Hungary Funds for Paks NPP

Russia is ready to finance fully the expansion of the only nuclear power plant in Hungary, stated Russian President Vladimir Putin after meeting Hungary’s PM Viktor Orban in Budapest, cited by RIA Novosti.

The new units of the Paks NPP cost EUR 12 B. The current agreement for the completion of the nuclear power plant is for Russian credit of up to 80% of the price of the project.

Viktor Orban pointed out that he expects preparatory works on Paks’ platform to start in 2017, while construction will begin in 2018.

The project will expand the facility by two charging units of 1,200 megawatts.

Orban and Putin agreed to start negotiations on the deliveries of Russian gas to Hungary after 2021.

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