Hungarian Gov't OKs $13.5B Nuclear Plant Deal With Russia

Law360, New York (February 6, 2014, 5:50 PM EST) -- Hungary's minister for national economy said on Thursday that the country's government has secured up to €10 billion ($13.6 billion) in financing from Russia for two planned nuclear reactors to be built in the city of Paks.

According to the Hungarian government's official website, the financing secured from Russia will be in the form of a variable-rate loan with a tenor of 21 years. The website said that according to Mihaly Varge, Hungary's minister for the national economy, the rate of interest payable on euro for...
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