Hungary has so far drawn down €239mn of a €10bn loan from the state of Russia for an upgrade of the Paks nuclear power plant, it was announced on February 19. Answering an opposition query, finance ministry state secretary Andras Tallai said that the “bulk” of that money has already been repaid, he added. This effectively means that Hungary has taken out a loan with better conditions to refinance the Russian credit. Hungary picked Russian state nuclear company Rosatom without a tender to build two 1,200 Mw reactors in Paks from €12.5bn. The intergovernmental agreement was signed in January 2014 by Russian President Vladimir Putin and Hungarian Prime Minister Viktor Orban.
Intellinews 20th Feb 2020 read more »