Prime Minister Viktor Orbán paid a working visit to Moscow to hold talks with Russian President Vladimir Putin on Tuesday.
The two parties expressed their appreciation for the advancement of bilateral relations in areas including the economy and inter-parliamentary cooperation, adding that a number of documents prepared for signature will contribute to the further development of Hungarian-Russian relations.
Viktor Orbán confirmed that Russia is Hungary's most important partner outside the European Union and noted that as a result of earlier agreements, Hungarian-Russian trade has developed at an unprecedented rate.
Today, a cooperation agreement was concluded between the two countries on the peaceful use of nuclear power. The document was signed by Minister for National Development Zsuzsa Németh and Sergey Kiriyenko, President of the Russian State Nuclear Energy Corporation Rosatom.
According to the agreement, Russia will be involved in maintaining the current capacity of the Paks Nuclear Power Plant by providing a loan to Hungary for the construction of two new blocks to replace the plant's outdated ones.
The agreement, as stated earlier by Government Spokesperson András Giró-Szász, will now go before the National Assembly.
Meanwhile in Budapest, Minister of State heading the Prime Minister's Office János Lázár said that the Russian loan for the EUR 10-12 billion investment would be provided for a 30-year term, and the first new block would be put into commission in 2023. He also stressed that the power plant will remain Hungarian property.