Russia to build two nuclear reactors in Hungary
August 27, 2022, 8:22 am

Russia to build two nuclear reactors in Hungary

Budapest in Hungary/Pixabay

Hungary's foreign minister said that Russian nuclear power giant Rosatom will begin constructing two new nuclear reactors in Hungary in the coming weeks.

The deal, reached between Russia and the EU state in 2014, aims to expand the existing Paks nuclear plant, the BBC said.

Earlier, South Korean state-owned company Korea Hydro & Nuclear Power (KHNP) announced its plan to construct the machinery buildings and provide materials for Egypt's first nuclear plant, a joint project with a Russian nuclear company.

The company signed a deal in Cairo on Thursday (August 25) with the Russian state-owned company Atomstroyexport (ASE).

Russia's nuclear industry has not been subjected to EU sanctions over its bloody invasion of Ukraine.

Moves to isolate and sanction its oil and gas exports have not been unconditionally supported by Hungary.

Hungary's foreign minister said that Russian nuclear power giant Rosatom will begin constructing two new nuclear reactors in Hungary in the coming weeks - Photo.Pixabay

The Paks site currently generates 40% of Hungary's electricity supply.

"Let the construction begin!" said Foreign Minister Peter Szijjarto in a Facebook post.

With the additional two reactors, the nuclear power station - currently made up of four Soviet-built reactors - will see its capacity more than double.

Russia and South Korea to jointly build nuclear plant in Egypt

"This is a big step, an important milestone," Mr Szijjarto said in a Facebook post quoted by AFP news agency.

"In this manner we will ensure Hungary's energy security in the long term and protect Hungarians from wild swings in energy prices."

He added that the nuclear reactors could be ready for service by 2030.

The controversial €12.5bn (£10.6bn; $12.4bn) project is largely financed by Russia.

In the wake of the war in Ukraine, many EU states have been trying to lessen their dependence on Russian supplies of energy.

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