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Hungary to borrow from Russia, to build Paks nuclear station

Hungary to tap Russian loan to finance Paks nuclear costs https://www.reuters.com/article/us-usa-election/democrats-win-bitter-virginia-governors-race-in-setback-for-trump-idUSKBN1D71D7 Reuters Staff, BUDAPEST (Reuters) – Hungary will first tap a Russian loan to finance initial expenditure worth about 98 million euros ($113.36 million) related to the expansion of its Paks nuclear power plant, state secretary Attila Aszodi said on Tuesday.

“We have not yet drawn on the Russian loan, but this will change in the coming hours,” Aszodi told an energy conference organized by financial news website portfolio.hu.

Russian company Rosatom will build two nuclear reactors in Hungary in a 12.5 billion euro project that has been delayed by at least a year as Hungary ironed out regulatory and financing issues with European regulators.

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November 8, 2017 - Posted by | marketing, Russia

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