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MOSCOW, May 25. /TASS/. Russian civilian nuclear power corporation Rosatom has opened a branch in Hungary to organize work for the construction of the Hungarian Paks-2 NPP, Rosatom said on Monday.
"The opening of the branch and the start of geodesic survey work on the nuclear power plant site are the first steps towards implementing the contract signed in December last year on construction of the fifth and sixth power units of Paks-2," Rosatom said in a statement.
Rosatom official Valery Limarenko said "the significance of this project for Hungary can hardly be overestimated."
"For Russia’s nuclear power industry, this project means the resumption of full-scale cooperation with Europe," Limarenko said.
"We’re ready for such cooperation and are ready to offer a full set of technologies for the entire life cycle of the NPP ensuring relatively low and competitive prices," he added.
Russia and Hungary agreed on the construction of new power blocks for the Paks NPP in January 2014. The agreement on cooperation in using nuclear energy for peaceful purposes was signed after the talks between Russian President Vladimir Putin and Hungarian Prime Minister Viktor Orban.
Russia will grant Hungary a government loan of up to 10 billion euros for the project implementation to finance the delivery of equipment, the fulfillment of works and the provision of services for the designing, construction and launch into operation of power units 5 and 6 at the Paks NPP.
The Paks NPP is Hungary’s sole nuclear power plant built under the Soviet design. All of its four reactors generate over 40% of all electric power in the country.