Hungary considers replacing Russia's Rosatom in nuclear project
The review follows delays, cost overruns and an EU court ruling that annulled state aid approval for the Russian-built project.
- Hungary is considering replacing Russia's Rosatom as the main contractor for the Paks nuclear plant expansion, sounding out alternative suppliers as part of a comprehensive review of the project.
- Prime Minister Viktor Orban originally awarded the project to Rosatom without a tender in 2014; the expansion has cost Hungary more than €2 billion of the original €12.5 billion estimate by February.
- Should the government terminate the contract, Hungary could absorb €1.1 billion in sunk costs and potential breach penalties, while a 2025 European Court of Justice ruling annulled previous European Commission state aid approvals.
- Prime Minister Peter Magyar's cabinet is expected to make a final decision later this year, reportedly "leaning towards a conclusion that the Paks expansion is necessary" but that Rosatom should not be involved.
- Budapest is exploring a 20-year license extension for four existing Russian-built reactors as a stopgap measure; Rosatom head Alexei Likhachev said earlier this month the company is waiting for Hungary to complete its review.
28 Articles
28 Articles
Hungary takes into account the replacement of Russian company Rosatom from the position of main contractor responsible for the work of expansion of the Hungarian nuclear power plant at Paks. Budapest has started looking for alternative suppliers in this project, informs Reut
Hungary has considered replacing Russia's Rosatom as the prime contractor for the Paks nuclear power plant expansion. The government led by Péter Magyar may decide by the end of the year or early next year on the fate of the investment, which was awarded by Viktor Orbán in 2014 without a tender.
Russian State Corporation Rosat received no official notification from the Hungarian side of the intention to terminate the contract for the construction of the Paksh-2 nuclear power plant. "We did not receive formal notice from the employer of the intention to terminate the contract," transmitting to RIA News a statement from the State corporation. According to the newspaper VZGLAD, on Friday, CEO Rosatoma Alexei Lihachev reported on the contin…
The Rosat will be thrown out of the project?
Hungary considers replacing Russia's Rosatom in nuclear project
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