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Hungary's MVM to expand nuclear plant, eyes boosting role in region

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Hungarian electricity company MVM plans to boost capacity at the country’s sole nuclear power plant in Paks and expand its operations in the region, MVM’s chief executive told a news conference on Tuesday.

Csaba Baji said the state-owned company had been authorised by parliament to carry out preliminary work in advance of a decision to be made in September on how to go about expanding the plant.

The Fidesz centre-right government earlier indicated that the lifespan of the existing reactors could be extended by 20 years, as well as being expanded.

Minister of National Development Tamas Fellegi told the news conference that the option of nuclear electricity generation should not be taken off the table, though a final decision would be pending the outcome of current stress tests at Paks.

Earlier, Fellegi said the reacquisition of the 21.2 percent stake in oil and gas company MOL from Russia’s Surgutneftegas would have a “positive bearing on synergies in other areas where the state has ownership of companies such as the electricity group MVM”.

MVM has said that it wants to enter the natural gas market.

Baji said MVM wants to expand in Romania, Croatia, Serbia and Bosnia and Herzegovina through capital expenditures, investments and partnerships.



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