Russia to Build Nuclear Reactors in Hungary

The Hungarian foreign minister, Peter Szijjarto says Russian nuclear power giant Rosatom will begin constructing two new nuclear reactors in Hungary.

Mr. Szijjarto said the deal reached between Russia and the EU state in 2014, aims to expand the existing Paks nuclear plant.

“This is a big step, an important milestone.

“In this manner, we will ensure Hungary’s energy security in the long term and protect Hungarians from wild swings in energy prices,” he said.

He added that the nuclear reactors could be ready for service by 2030.

Report says the controversial €12.5bn (£10.6bn; $12.4bn) project is largely financed by Russia.

Meanwhile, the Paks site currently generates 40% of Hungary’s electricity supply.

With the additional two reactors, the nuclear power station currently made up of four Soviet-built reactors will see its capacity more than double.

However, in the wake of the war in Ukraine, many EU states have been trying to lessen their dependence on Russian supplies of energy. But its nuclear industry has not been subjected to EU sanctions yet.

Report says moves to isolate and sanction Russia’s oil and gas exports have not been unconditionally supported by Hungary.

BBC/CO