The new nuclear power plant is planned to be connected to the grid at the beginning of the next decade

On November14, Hungary signed a construction schedule for the Paks II nuclear power plantwith Russia. This was announced by Hungarian Foreign Minister Peter Szijjarto .

The documentwas signed by Szijjarto and Rosatom CEO Alexei Likhachev.

"We havesigned the Paks II construction schedule, based on which we will connect thenew nuclear power plant to the grid at the beginning of the next decade. It'sbeen a long way, but the work will finally be related to construction, notdocuments," Siyarto wrote.

According tothe published photos, Siyarto and Likhachev visited the construction site inthe Hungarian city of Paks.

What is knownabout Paks II?

According toEuropean Pravda, Paks II is a €12 billion expansion project of the Paks nuclearpower plant, led by Rosatom and financed mainly by a Russian government loan.Last year, the Hungarian Atomic Energy Authority issued a permit for thisproject.

It is notedthat Hungary expects Russia's Rosatom to build two new reactors at the Paksnuclear power plant by 2030-2031.