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More on Paks deal, future energy co-ops revealed

Recycling

More information is coming out today regarding what exactly was discussed and/or agreed upon during Prime Minister Viktor Orbán’s official visit to Russian President Vladimir Putin in Moscow last week. Beyond the announcement regarding possible relief for steelmaker ISD Dunaferr, a bit more has been revealed about the terms of the Paks nuclear plant deal and, interestingly enough, Russian interest in Croatia-based INA.

Local news outlet Figyelő, among others, reported today that the interest rate on a Rosatom loan for the project will run somewhere between 3.9% and 5%. At the Orbán-Putin meeting, it was decided that 80% of the cost of the Paks nuclear power plant extension would be financed by the state-owned company with a €10 billion credit line.

Government spokesman András Giró-Szász also stated today that the government had discussed terms of further agreement on atomic energy cooperation between Hungary and Russia beyond the Paks plant development.

Finally, Figyelő’s print edition noted that Russian interests had discussed the possibilities in buying up MOL’s minority stake in Croatia-based oil-and-gas peer INA.

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