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Hungary to spend USD 112 million planning Paks II in 2015



Even as the proposed national budget for 2015 decreases spending on secondary and higher education by nearly HUF 100 billion (USD 400 million), it allocates HUF 28 billion (USD 112 million) for preparatory work and planning related to the construction of two nuclear reactors at the Paks nuclear power plant.

Vg.hu writes that the preparatory work is to be performed by MVM Paks II Zrt., a wholly owned subsidiary of state-owned electric company MVM.  According to Attila Aszodi, the government official responsible for the project, although MVM Zrt. is to provide the initial capital for the project, ownership of the company is to be transferred to the Hungarian National Asset Manager.  Once that happens, the company will be able to make use of state funds, with the Office of the Prime Minister exercising ownership rights over the company.

Aszodi said most of the HUF 28 billion appropriated for 2015 would be spent on location studies and environmental impact studies and to pay for planning work completed to date.  The rest is to be spent on personnel costs, including the salaries of the company’s “growing number of employees” and “work-related expenses”.

He emphasized that money spent on project preparations increased the market value of the project by an even greater amount.

(And if you believe that, we know of a bridge for sale in Brooklyn. –Ed)



Richard Field :