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Russia, Hungary agree to step up cooperation in nuclear power

February 02, 2017, 18:59 UTC+3

Russia may fully finance construction of two new power units of the Paks Nuclear Power Plant in Hungary

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© Maxim Slutskiy/TASS

BUDAPEST, February 2. /TASS/. Russia and Hungary have agreed to step up cooperation in nuclear power, including the Paks NPP project, Russian President Vladimir Putin said after talks with Hungarian Prime Minister Viktor Orban on Thursday.

"In particular, we agreed to step up joint work in the energy sphere," Putin said, adding that Russia attached great importance to the project for building two new reactors at the Paks NPP plant 12 billion euros worth Russia was currently working on. When the project is completed, the capacity of the Paks NPP will double.

"This nuclear power plant has been in operation in Hungary for quite a while. Already now it accounts for 40% of the country’s electricity output. The commissioning of extra capacities will allow for building up power generation to meet the growing demand essential for launching new industries," Putin said.

Putin does not rule out Russia may fully finance construction of two new power units of the Paks Nuclear Power Plant (NPP) in Hungary.

The construction project of two new power units of the nuclear power plant in Hungary is estimated at 12 bln euro, the head of Russian state said. "80% were anticipated [to be paid] at the expense of the Russian credit," Putin said. The Prime Ministry of Hungary was informed about "other possible options," he said.

"We are ready to provide 100% financing but terms of the agreement should be slightly different in such case," the Russian leader said. "Everything is also possible for implementation in this aspect," he added.

"It means ten thousand extra high technology jobs with good salaries, reliability improvement and work for future development of the Hungarian economy on the whole," Putin said referring to advantages of continued construction of the NPP.

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