Gov’t says EC approval process may have upped costs of Paks 2

Telco

Almost HUF 100 billion is allocated in this yearʼs budget to prepare for the upgrade of the Paks Nuclear Power Plant, but the European Commissionʼs recent approval process for the project could lead to costs being raised, Minister for National Economy Mihály Varga said Tuesday, according to Hungarian news agency MTI.

Cabinet Chief János Lázár said he believes spending on preparations for the upgrade could come to about HUF 200 bln this year, Varga noted. If these costs materialize, the government will have to tap into budget reserves or draw on Russian credit for the project, he added.

The government will use domestic resources to cover the costs as long as they are available, he stressed.

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