Paks project company to receive license to evaluate site

Recycling

The National Nuclear Energy Office (OAH) has issued a license for MVM Paks II Atomerőmű Fejlesztő, project company established to undertake the upgrade of Hungary's sole nuclear power plant to carry out research and evaluation of the planned site, OAH president Gyula Fichtinger told Hungarian news agency MTI yesterday.

 The project company will have about one and half years to establish whether there are any safety factors excluding the construction that must be taken into account, Fichtinger said.

He said OAH had consulted with the local mining authority as well as the International Atomic Energy Agency (IAEA) before issuing the license. Hungary signed an intergovernmental agreement with Russia on the construction of the two blocks at the Paks nuclear power plant in January 2014.

Russia is providing €10 bln in long-term credit for the investment. MVM Paks II Atomerőmű Fejlesztő was set up by state-owned Hungarian Electricity Works MVM in August 2012. The Prime Minister's Office exercises the state's ownership rights over the company from November 15, 2014, until December 31, 2026.

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