Hungary approves deal with Russia on building 2 units of Paks Nuclear Power Plant

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Today, the lower chamber of the Hungarian Parliament by the majority of votes has approved the terms of the intergovernmental agreement with Russia on the construction of two units of the Paks NPP. The document signed in January during the visit to Moscow of Prime Minister of Hungary Viktor Orban provides for the construction of two units with the capacity of 440 MW each with a possible financing of the project by the Russian side.

As it was previously stated by Finance Minister Anton Siluanov, the matter concerns a loan of 9 - 10 billion euros to be paid off in 21 years. "The decision on the loan has not been made yet, the negotiations about the terms of the loan are under way; we hope, in the first half /of 2014/ we will reach the final decision", he informed ITAR-TASS.

The Paks NPP is the only operating nuclear power plant in Hungary. The station was built according to a Soviet project; all four reactors are of the VVER-440 type. The NPP produces over 40 percent of all electricity generated in the country.