Hungary to Amend Russia Nuclear Deal This Week, Minister Says

(Bloomberg) -- Hungary and Russia will finalize this week an amendment of their contract to expand the Paks nuclear plant, Foreign Minister Peter Szijjarto said.

The changes, which Russia’s finance minister will sign this week after Hungary’s ratification, will open the way to accelerate the expansion of the nuclear plant, Szijjarto said on Facebook after meeting Rosatom Corp. Chief Executive Officer Alexey Likhachev in Budapest on Monday. Neither side has detailed the specific changes.

The European Union approved the amendment of the contract last month, which Szijjarto has said will allow two new Paks nuclear blocks to come online by the early 2030s. The project has been marred by delays, including over initial EU opposition to the investment and the quality of Rosatom’s plans, which Hungary’s own regulator said fell short of strict requirements.

©2023 Bloomberg L.P.