April 20, 2017 / 12:23 PM / in 8 months

Hungary ready to finance Paks nuclear plant expansion -govt

BUDAPEST, April 20 (Reuters) - Hungary’s government is ready to finance the costs of a 12 billion euro expansion of its Paks nuclear power plant from state funds or a loan that is cheaper than the financing offered by Russia, the prime minister’s chief of staff said.

“The government plans to cover the financing of the nuclear power plant, the 12 billion euros ... from state funds, if possible, without a loan, or a loan that is even cheaper than that offered by Russia,” Janos Lazar told a news conference on Thursday.

Lazar said the project cost 100 million euros so far, which Hungary could finance from the budget, by tapping the Russian loan offered, or securing an international loan raised by debt agency AKK. (Reporting by Gergely Szakacs and Krisztina Than)

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