Hungary and Russia's Atomenergoprom sign deals to start building 2 nuclear reactors in 2018

IndustriesAssociated Press

Hungary says it has signed three contracts with a Russian company which will allow construction in 2018 on new reactors at the country's only nuclear power plant.

Attila Aszodi, government commissioner for the project, said the implementation agreements with Atomenergoprom covered construction details, the reactors' maintenance and their fuel supply.

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In January, Hungary signed a deal with Russia for two 1,200-megawatt nuclear reactors for the plant at Paks, which produces over half of the country's electricity supply. The pact includes a Russian loan of 10 billion euros ($12.3 billion) covering 80 percent of construction costs.

Aszodi said Hungary had received guarantees that Russia would not abandon the project, including the loan, as it did recently with the South Stream pipeline after opposition from the European Union.