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Russia to Build Two Nuclear Reactors in EU Member Hungary

The EU had criticized parts of the deal, namely the duration of the contract and the fact that Russia would be the sole fuel supplier. Recently, this has been resolved after Russia's contract-mandated monopoly on supplying fuel to the plant was cut from 20 years to 10 years


MOSCOW (Sputnik) – The Hungarian government has confirmed a contract under which Russia would build two reactors at the Paks nuclear power plant (NPP), Russian nuclear corporation Rosatom head Sergei Kiriyenko said Tuesday.

A series of deals, signed in late 2014, envisages the construction of the NPP’s units 5 and 6 with Russian-built VVER-1200 reactors, as well as nuclear fuel supplies and maintenance.

<figcaption>Paks Nuclear Power Plant produces more than 40 percent of the electrical power generated in the country</figcaption>
Paks Nuclear Power Plant produces more than 40 percent of the electrical power generated in the country

“We got a confirmation from the government of Hungary that everything has been agreed, everything remains unchanged.”

“Everything has been confirmed, the contract has entered force,” Kiriyenko said.

Russia has given Hungary a loan of up to $11 billion for the project. In February 2014, Hungary's economic Minister Mihaly Varga said the loan would be paid back over two decades after the reactors become operational in 2023.

Paks is the only nuclear power plant in Hungary. Located 62 miles south of Budapest, it supplies over one-third of the country's electricity.


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