Russia Ready To Fulfil Commitment On Loan For Hungary’s Paks 2, Says Putin

18 Feb (NucNet): Russia is ready to fulfil its commitment to provide a loan of up to €10bn ($10.8bn) to finance 80 percent of the cost to build two new reactors at the Paks 2 nuclear station in Hungary, Russian president Vladimir Putin said today. Mr Putin made the comment at a press conference following a meeting with Hungarian prime minister Viktor Orban. Mr Orban said Hungary considers the agreement to expand the Paks nuclear power station as a priority project. An agreement signed in 2014 would see Russian enterprises supply two VVER-1200 reactors for Paks 2. In January 2016 the European Commission expressed doubts about whether Hungary’s financing plans for the two reactors involve legal state aid. In November 2015, the EC launched an infringement procedure against Hungary concerning the implementation of the project and the award of the construction contract to Russia. Paks has four Russian-supplied VVER-440 pressurised water reactor units, which began commercial operation between August 1983 and November 1987.