Russia Approves Loan To Build Two Large Nuclear Plants in Hungary

The Russian government has approved a state loan to finance the construction of two new nuclear reactors for Hungary’s Paks Nuclear Power Plant, RT reports today, adding that Moscow has pledged to allocate up to $10.2 billion for the project out of a total cost of $13.7 billion. The two 1.2 GW plants will be added to the Paks facility, where four previous units built between 1982 and 1987 already provide Hungary with about half of its power today. The deal was originally signed in 2014 with Rosatom. With the new modern nuclear reactors, the authorities expect to double the plant’s power output.