Hungary considers replacing Russia's Rosatom in €12.5 billion nuclear project - Reuters
Hungary's new government is considering replacing Russia's state-owned nuclear company Rosatom as the main contractor for the expansion of its Paks nuclear power plant, Reuters reported on October 21, citing two people familiar with the review.
The government of Prime Minister Péter Magyar has begun exploring alternative suppliers for the €12.5 billion project, which former Prime Minister Viktor Orbán awarded to Rosatom without a competitive tender in 2014.
One source told Reuters that the government was leaning toward keeping the nuclear expansion project but proceeding without Rosatom.
The review will examine the legal, technical and financial consequences of changing contractors, including possible delays and penalties. Hungary has already spent more than €2 billion on the project, including €1.1 billion paid to Rosatom.
A final decision is expected in late 2026 or early 2027.
Rosatom said it was continuing work under the existing agreement and had received no formal notification of plans to terminate the contract.
The Paks expansion is Rosatom's most prominent nuclear construction project in the European Union. Under Orbán, Hungary opposed EU sanctions targeting Russia's nuclear industry.
Magyar's government remains committed to expanding nuclear power generation but is reviewing the country's reliance on the Russian contractor.
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