Contracts for constructing two power units of a Hungarian NPP using Russian technology are signed

The contracts were signed by Sándor Nagy, CEO of MVM Paks II Nuclear Power Plant Development Ltd., and Vladimir Savushkin, Senior Vice-President – Director of Moscow Branch of JSC NIAEP.

The first document is the EPC contract (engineering, equipment supply, construction) for the two new power units, which stipulates the tasks for the next 12 years. The second one is the operation and maintenance contract for the future power units, and the third document is the fuel supply contract.

“Exceptionally important contracts which had taken considerable effort during the last five months were signed,” Attila Aszódi, the Hungarian government commissioner, told the journalists.  He emphasized that the power units will remain under Hungary’s ownership, while the total investment cost will be within a cost frame of 12.5 billion euros in all circumstances.

On January 14, 2014, Russia and Hungary signed a cooperation agreement on the peaceful use of atomic energy, in accordance with which Rosatom is to construct two power units at the Paks NPP. The Paks NPP is the only 2 GW nuclear power plant operating in Hungary, which accounts for 42% of electricity generated in the country. The NPP has been constructed according to the Soviet design, and all its four reactors are of VVER-440 type. To construct the power plant, Russia will provide Hungary with a government loan.