The current nuclear power station blocks in Paks operate for another 20+ years | source:

Paks power plant implementation agreement signed

December 9, 2014

Hungary’s state-owned power company MVM - or more precisely MVM Paks II Nuclear Power Plant Development Closed Joint-Stock Company - and the Russian Joint-Stock Company Nizhny Novgorod Engineering Company Atomenergoproekt have on Tuesday signed three implementation agreements for two new 1,200 megawatt nuclear reactors to be constructed at the Paks power plant.

"The agreements formalise the design, procurement and construction parameters for the new units, conditions related to their operation and maintenance support, and details regarding fuel supply and the handling and storage of spent nuclear fuel," the Prime Minister’s Office told state-owned newswire MTI.

It added that the Hungarian state has entered "into a favourable agreement keeping within the financing resources available for the project."

Opposition parties denounced the government’s deal with Russia that was signed without a tender that could have saved a significant amount of money for Hungarian taxpayers and they charge that the whole deal – that is suspected to have been signed and then approved by Hungarian parliament without thorough feasibility studies – is not in the interest of the Hungarian people but that of the government of Viktor Orbán.


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