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Russia's Tvel seeks Hungarian nuclear stake

If decision were made at the Paks Power Plant Rt to set up a fifth and sixth block, Tvel a Russian fuel-rod maker would be ready to take part in the investment even as owner, Anton Bdenkov, the company’s deputy CEO told Népszabadság. TVEL is seeking a contract to build a fifth-generation block at the power plant and is interested in doing so as a shareholder, said Anton Badenkov, a deputy chairman at TVEL, according to Népszabadság. The company whose contract to supply fuel rods for Paks was renewed in 2003, is arranging the removal of the fuel rods damaged in an incident that occurred in April 2003. Paks supplies about 40% of Hungary's electricity. The country will need to build about 6,000 GWh of new capacity and import 11,000 GWh of power to meet demand by 2020, according to a government projection. Paks is seeking government approval to extend the power plant’s lifetime to 3032, which – if granted – will allow Tvel to continue supplying for Paks.