Orbán: Nuclear energy to expand; S. Korea deal signed
As part of his official visit to India, Prime Minister Viktor Orbán detailed his ambitious plans for expansion of Hungary’s nuclear power industry, namely a 50%-75% increase in nuclear-generated electricity by 2023. The PM’s plans appear to have been buoyed by a new agreement with the South Korean government designed to construct and operate more power plants in Hungary.
In speaking before a Hungarian-Indian business forum in Mumbai, Orbán said that the proportion of nuclear-generated electricity in his country could jump from 40% to as much as 70% within 10 years.
Orbán went on to tout the incipient expansion to the Paks nuclear power plant and stated that within five years, Hungary could have the least expensive electricity in the European Union – if his Fidesz-KDNP coalition wins next year’s parliamentary election, in his assessment.
And while Orbán finished off his India trip with more appearances in Mumbai on Saturday, Foreign Affairs Minister János Martonyi was signing an agreement with his counterpart Byung-se Yun designed for the Asian nation to export and operate nuclear power plants in Hungary. According to South Korea-based Yonhap News Agency, tenders for construction of new nuclear plants in Hungary will be announced by year’s end.
Agreement on the 40-year deal was formalized in August; the accord is the 28th into which South Korea has entered.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.