Hungary has received the European Commission’s approval to amend contracts for new reactors at its Paks nuclear power plant (NPP), developed by Russia’s Rosatom, Foreign Minister Peter Szijjarto has revealed.
The Paks NPP produces more than half of the electricity consumed in the country. Moscow and Budapest struck the plant-expansion deal in 2014, with Rosatom intended as the builder of two new reactors with a capacity of 1.2 gigawatts each.
The project has been hit with long delays and Hungarian officials have discussed changing the contract to include a project management company to speed it up, according to Reuters.
“We got the green light from the European Commission. The Commission has approved the contract changes of the new reactors to be built in Paks, both the construction and the financing contract,” Szijjarto said in a Facebook video on Thursday.
Hungarian authorities had previously said the expansion of the Paks infrastructure was seen as crucial to the nation’s energy security.
READ MORE: EU will not sanction Russia’s nuclear industry – Hungarian FM
Nuclear power is not covered by European Union sanctions against Moscow, and Hungary has repeatedly said it would oppose any attempts to impose restrictions on Russia’s nuclear sector.
For more stories on economy & finance visit RT’s business section
© 2023, paradox. All rights reserved.
Russian Defense Minister Sergey Shoigu has met with top military officials to discuss the battlefield…
The German ambassador to the Palestinian Authority has been hounded by an angry mob and…
The Biden administration is considering a ban on enriched uranium from Russia using the president’s…
State troopers used pepper spray and stun grenades as they arrested dozens of pro-Palestine protesters…
The number and frequency of Ukrainian soldiers receiving training in US bases in Western Europe has dropped…
EU foreign policy chief Josep Borrell has insisted that member states don’t want their citizens…