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Paks Upgrade Investment Agreements To Be Prepared By Year-End

Paks Upgrade Investment Agreements To Be Prepared By Year-End

(MTI) – Russia’s Rosatom plans to finish preparing framework investment and commercial agreements for the construction of two new blocks at Hungary’s sole nuclear power plant in Paks by the end of this year, CEO Sergey Kirienko said at a trade fair in Moscow on Monday.

Preparations that lay the groundwork for a timetable for the project are progressing well on the whole, Kirienko said at Atomexpo. There have been no delays, he added.

He stressed the importance of the transparency of the nuclear power plant’s expansion, noting that Rosatom had presented the project together with representatives of the Hungarian government to the European Commission and Euroatom a week earlier in Brussels.

Under an intergovernmental agreement signed by Hungary and Russian last January, Hungary will get about EUR 10bn in Russian credit, with favourable conditions, for the construction of the two new blocks. Locally contracted work will account for 40 percent of the project costs, Kirienko said.

The project will create more than 10,000 jobs, while taxes paid by local contractors will boost the budget, he added.

Local suppliers in Hungary could also become Rosatom partners in projects abroad later on, he said.

Photo: www.napravalo.hu

Source: http://mtva.hu/hu/hungary-matters

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