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Hungary transfers HUF 57 bln for Paks upgrade in December

Hungary made HUF 57 billion in payments for the upgrade of the Paks nuclear power plant in December, János Süli, the minister in charge of the project, said at a conference organized by business daily Világgazdaság this week, Hungarian news agency MTI reports.

The payments were made for six invoices related to general contractor Rosatomʼs delivery of technical plans for two new blocks at the plant in October, Süli said. Those plans will allow project company Paks II to submit its application for a construction license to the National Atomic Energy Office (OAH) by the end of June 2020, he added.

The OAH has 15 months to scrutinize the application, which means the permit could be issued by September 2021 at the earliest, Süli said.

The state of Russia is financing 80% of the cost of the two new blocks.