LMP concerned about extra EUR 310m for Paks upgrade company

Opposition LMP has expressed concern over a planned additional allocation of some 100 billion forints (EUR 310m) to the company in charge of the Paks nuclear power plant upgrade in next year’s central budget.

Although construction of two new blocks has already suffered a delay of at least six months, the sum in question has already been set aside in form of a capital increase for the company, party lawmaker Péter Ungár told a press conference on Monday.

“The Paks upgrade project is one of the worst business deals of the century,”

he said, adding that the money should instead be allocated for insulation projects in the construction sector to give Hungarian businesses opportunities. This would boost Hungarian economic growth, Ungár said.

He insisted that parts of the extra funding would end up in the pockets of the ruling Fidesz party’s media empire or the pro-government Civil Unity Forum NGO in form of state ads.

Hungary signed an agreement with Moscow in January 2014 on the construction of two blocks at the Paks nuclear power plant by Russia’s Rosatom.

Russia has agreed to lend Hungary 10 billion euros to cover 80 percent of the project’s costs.

Source: MTI