Russia will provide financing for the expansion of Hungary's only nuclear power plant under a deal signed Tuesday, Janos Lazar, head of the prime minister's office, said.
Russia
will
provide financing for the expansion of
Hungary
's
only nuclear power plant under a deal signed Tuesday, Janos Lazar, head of the
prime minister's office, said.
Hungarian Prime Minister Viktor Orban is visiting
Moscow
Tuesday at the invitation of Russian President Vladimir Putin to discuss
economic developments over the past year.
The intergovernmental deal involves building two 1,200 megawatt units at a cost
of 10 billion-12 billion euros ($13 billion-$15.6 billion) at
Hungary
's
state-owned nuclear plant MVM Paksi Atomeromu Zrt., said Mr. Lazar, speaking at
a press conference in
Budapest
.
Russia
will
provide a 30-year loan covering 80% of the construction costs, with
Hungary
financing the rest.
Mr. Putin met for talks with Mr. Orban at his residence in Novo-Ogaryovo, near
Moscow
. The
Russian premier said at the start of the talks that a series of documents were
being prepared in
Moscow
for
signing that it was hoped would contribute to the further development of ties
between the two countries, Hungarian state news agency MTI reported.
The two new units will be constructed by Russian state-owned nuclear energy
firm Rosatom.
"The Russian technology is the safest for
Hungary
as it
would be nonsense to bring different technology to an existing Russian
set-up," Mr. Lazar said.
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