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Paks board approves preparations for expansion of nuclear power plant

The board of the state-owned Hungarian Electricity Works (MVM) has approved a concept for preparations to expand the Paks nuclear power plant, a project of strategic importance for the national interest, Prime Minister Gordon Bajnai said at a press conference in Paks on Friday.

The board has decided to set up a project company for the expansion, “bringing the country closer to reinforcing its energy security”, Bajnai said.

It will take 11-12 years to build the new capacity, after which it will supply the country with cheap and clean electricity for 60 years.

The Paks plant meets about 40% of Hungary's demand for electricity. (MTI-Econews)