Hungary reconsiders Russian-backed Paks nuclear project

Hungary’s incoming government says it will review the financing and implementation of the long-delayed Paks nuclear power plant expansion, a major energy project closely linked to Russia.

The nominee for economy and energy affairs minister, István Kapitány, told parliament on Monday that the 12.5-billion-euro ($14.7 billion) project needs a “transparent nuclear strategy” and a full reassessment of its costs and contractual terms, News.Az reports, citing Reuters.

The expansion of the existing Paks nuclear facility was originally agreed in 2014 without a tender and awarded to Russia’s state nuclear corporation Rosatom. The project, often referred to as Paks II, involves the construction of two VVER reactors and has faced repeated delays and rising scrutiny.

Officials said key contracts remain classified, limiting public visibility into the financial structure. Kapitány added that the government must review both implementation conditions and overall pricing, while stressing that nuclear energy will remain central to Hungary’s energy mix.

The project has long been seen as a symbol of energy and political cooperation between Budapest and Moscow under previous leadership, particularly during the tenure of Viktor Orbán. Critics have also questioned transparency and potential cost inflation, while Rosatom has defended the project’s pricing.

The new government, led by Peter Magyar, has signaled a shift in foreign and domestic policy priorities, including efforts to improve relations with the European Union and strengthen oversight of public procurement and anti-corruption measures.

Separately, the incoming foreign minister nominee Anita Orbán said Hungary aims to rebuild trust with EU partners and improve transparency in governance, including judicial independence and oversight of EU funds.

News.Az 

By Aysel Mammadzada