After the Russian invasion of Ukraine, the sanctions have stopped several trades and different deals between Russian and other states. However, some states, including Hungary did not bother with the sanctions and moved forward with deals.
The nuclear regulator of Hungary has approved a construction license for 2 new reactors at the Paks nuclear power plant.
These reactors are to be constructed by the Rosatom of Russia in a 2014 contract contracted between Budapest and Moscow.
The project has witnessed a serious delay. However, the plan is granted without a tender to Rosatom.
The contract has frequently been referred to as proof of warm connections between Hungarian Prime Minister Viktor Orban and Russian President Vladimir Putin.
According to Hungary’s foreign minister.
“The massive Russian nuclear-powered, Rosatom will commence making two new nuclear reactors in Hungary in the approaching weeks. This is a big step, an important milestone. We can now move from the planning stage to construction. You’ll see that at the Paks site in the coming weeks. It was realistic that the reactors could enter service by 2030.”
The deal was made in the year 2014 to increase the current Paks nuclear plant.
The Paks spot presently produces 40 percent of Hungary’s electricity source.
Interpreting statistical analysis,
“The contract to figure two 1,200MW reactors in Paks, 60 miles south of Budapest, will over twofold the plant’s volume. The plant is the only nuclear capability in the country and delivers approximately 40 percent of its electricity requirements. In this way, we will guarantee the energy safety of Hungary in the long term and keep Hungarians from wild swings in energy prices. The construction costs €12.5bn which makes £10.6bn.”
The construction is about to begin and it is a great step, a significant breakthrough.
Sources
https://www.cnn.com/2022/08/27/europe/hungary-russia-nuclear-reactors-intl/index.html
https://www.bbc.com/news/world-europe-62695938
