Hungary is to double its nuclear capacity with a 10 billion euro loan from Russia.
With the credit, Hungary’s only nuclear power plant (NPP), Paks, will have two additional reactors that will double the plant's electricity production capacity, according to the Hungarian media.
Paks NPP is around 30 years old and Hungary’s first and only operating nuclear power station. It currently produces around 40 percent of the country’s electricity.
Russia and Hungary agreed on the construction of the two reactors in January. The 10 billion euro credit agreement between Hungary and Russia was signed in March and approved by the Hungarian parliament on Monday.
The Hungarian government claims that the nuclear project will create thousands of jobs and lower the country’s electricity prices for the consumers.