IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 14 Jan 2014 | Removal date: open ended
Still in force

Trade finance

On January 14, 2014, the head of the state corporation 'Rosatom', Sergey Kiriyenko, and the Minister of National Development of Hungary, Zsuzsa Németh, signed a cooperation agreement in the peaceful use of atomic energy.
 
The agreement foresees the construction of two new units of the "Paks Nuclear Power Plant", the only in nuclear plant in Hungary. The blocks are expected to be ready by 2023 and will remain Hungarian property. Apart from 'Rosatom', two other state companies competed for the project, the French 'Areva' and the Northern American 'Westinghouse'.
 
However, the Hungarian government preferred 'Rosatom' because the Russian government offered to finance up to 80 per cent of the project by providing a 30-year loan worth EUR 10-12 billion.
 

AFFECTED COUNTRIES

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