Russia, Hungary Sign Accord to Expand Paks Nuclear Power Station

Agreement calls for Russia to build 2 new reactors at Hungarian plant in Paks, nearly doubling current capacity, Russian President Vladimir Putin says, speaking to reporters near Moscow.

• Putin speaks after meeting with Hungarian PM Viktor Orban
• Tax revenue from new units at Paks plant may be $1b: Putin
• Rosatom CEO Sergei Kirienko, Hungarian Development Minister Zsuzsanna Nemeth sign accord on nuclear power usage
• Russia, Hungary in preparing new L-T natural gas supply agreements for contracts that expire in 2015: Putin
• NOTE: Earlier Nol said that Paks plant expansion project may cost as much as $18b