Hungary, Russia agree on financing deal for nuclear plant

BUDAPEST Thu Feb 6, 2014 12:42am IST

BUDAPEST Feb 5 (Reuters) - Hungary has agreed with Russia on the terms of a 10 billion euro ($13.5 billion)loan to finance the construction of two new reactors at Hungary's nuclear plant and the financing deal could be signed within days, its Economy Minister Mihaly Varga said.

Varga told private news channel HirTV on Wednesday that Hungary will repay the loan over a period of 21 years after the new blocks become operational.

He said Hungary got the loan on better terms than current market rates, but declined to specify the interest rate. "We have managed to reach a deal which we could not have been able to get on the market," Varga said.

Russian nuclear power company Rosatom will expand Hungary's only nuclear power plant, more than doubling its capacity in the biggest construction project in Hungary's post-Communist history, the two countries agreed last month. ($1 = 0.7390 euros) (Reporting by Krisztina Than; Editing by Anthony Barker)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

India Economy

REUTERS SHOWCASE

Reliance Projects

Reliance Projects

Exclusive: Reliance plans $13 billion projects including new refinery.  Full Article 

Chopper Deal

Chopper Deal

India nears $2.5 billion deal for Boeing military helicopters.  Full Article 

Coal Scam

Coal Scam

CBI drops coal scam case against Kumar Mangalam Birla.  Full Article 

Low Stocks

Low Stocks

Indian power station coal stocks lowest since 2012 blackouts.  Full Article 

Markets This Month

Markets This Month

Tata Motors, M&M top Sensex gainers  Full Article 

Google Drones

Google Drones

Google is testing unmanned drones to deliver anything from dog food to medicine.  Video 

#RiceBucketChallenge

#RiceBucketChallenge

In India, rice replaces ice in bucket challenge.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage