Rosatom CEO Alexei Likhachev stated that the Russian nuclear company remains on track with two new reactors at Paks despite Hungary’s recent government change, which replaced Viktor Orbán with Magyar. The concrete work for Unit 5 is over 80 percent done, with progress ongoing on Unit 6, and reactor components already in production. Likhachev expressed openness to dialogue, noting no inquiries had been received from the new government in Hungary.
Magyar contested this update, highlighting that the Paks II should have been operational by 2024 per the original contract. Instead, he reported that Hungary has invested approximately 1,000 billion forints (€2.8 billion) on what he described as minimal progress, with only depots and “two large concrete pits.” Magyar’s government is now conducting a comprehensive review of the project, covering aspects like financing and cooling solutions.
This review challenges one of Orbán’s key agreements with Russia. Orbán initiated the Paks II deal in Moscow in 2014, which allowed Rosatom to handle the two-reactor expansion supported by up to €10 billion in Russian funding. In 2016, he termed it the “deal of the century.” This agreement persisted even after Moscow’s extensive invasion of Ukraine. As recently as March, Orbán’s foreign minister Péter Szijjártó acknowledged having discussions with Russian officials about EU sanctions, following leaked communications revealing his assurance that a bank linked to Paks was exempt from sanctions.
In related developments, Romania closed the second and last operating reactor at Cernavodă due to insufficient water levels in the Danube for its cooling pumps.
Leave a Reply