BUDAPEST, Aug. 28 -- Russian President Vladimir Putin and Hungarian Prime Minister Viktor Orban confirmed here on Monday that the construction of a new Hungarian power plant "Paks 2" would start next January.
"The construction of the new nuclear power plant Paks 2 can begin in January," said Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto following the Putin-Orban meeting. "Nothing can stop it now," he added
Putin and Orban attended the first day of the 2017 World Judo Championships, that started here Monday. The two leaders met in the venue of the competition, and discussed ongoing bilateral issues, such as the construction of the new nuclear power plant and other economic topics.
The total cost of the nuclear power plant is 12 billion U.S. dollars, of which Hungarian entrepreneurs will contract 5 billion U.S. dollars, Szijjarto also noted.
The Hungarian opposition criticized the project due to the lack of its transparency, but the new power plant has been evaluated by the European Commission and received all of the permissions earlier this year. It should be completed in 2023.
Szijjarto emphasized that following a setback of many years -- resulting from EU sanctions and other global economic impacts -- trade between the two countries started to increase significantly this year by 34 percent by the end of May.
Hungary's exports rose by 30 percent, due to two factors: a 44 percent growth in the pharmaceutical industry on one hand,and the fact that Russians support the Hungarian food companies' investments on the other.
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