The project company responsible for the upgrade is called MVM Paks II Atomerőmű Fejlesztő and was established on August 10, 2012. It has registered capital of HUF 9 bln. The company was put under direct state ownership, as was decided on October 15 at a general meeting of the state-owned Hungarian Electricity Works (MVM), and it became directly state-owned on November 11. State assets manager Hungarian National Asset Management Company (MNV) made the purchase for more than HUF 10 bln.
In line with the agreement of the Hungarian and Russian governments made in January 2014, the Russian state-owned nuclear energy company Rosatom is responsible for building two new reactors at the nuclear power plant located in Paks. The state of Russia has promised to provide Hungary with a maximum of €10 bln in loans for the construction of the reactors.
The Prime Minsiter’s Office is currently headed by Minister János Lázár. The Paks Nuclear Power Plant is part of the MVM group.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
