Hungary to start drawing on Paks loan from Russia

Recycling

Hungary will soon start accessing funds from a EUR 10 billion loan from the state of Russia to upgrade the Paks Nuclear Power Plant, the state secretary responsible for the investment said at a conference in Budapest on Tuesday.

Payment of the first ten invoices submitted by Russiaʼs Rosatom, the general contractor for the upgrade, have already started, said Attila Aszódi, government commissioner for the maintenance of capacity at the Paks plant, at the Portfolio Energy Investment Forum conference, national news agency MTI reports. The invoices were for a combined EUR 98 million, he added.

The capital of project company Paks II Atomerőmű will be raised at the same time as the first payment is made for the planning of the upgrade, Aszódi noted.

The most important basic permits for the construction of the two additional reactors at the Paks plant have already been acquired. The reactors could start commercial operation in 2026 and 2027, Aszódi added.

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