The Russian State Atomic Energy Corporation (Rosatom) has officially poured the first concrete batch into the foundation of the Paks II Nuclear Power Plant in Hungary, an event described by Russian officials as having historical significance for the world's nuclear energy industry.
Speaking at the ceremony in Paks, Rosatom General Director Alexey Likhachev said that this is the time marking the entry into the main construction phase of the project.
According to Mr. Likhachev, Paks II is being implemented under the patronage of senior leaders of the two countries, Russian President Vladimir Putin and Hungarian Prime Minister Viktor Orban. The direct interest from the leaders of the two countries is assessed by Rosatom as an important factor ensuring the progress and success of the project in the context of a volatile global energy market.
Russia has a long history of building nuclear power plants abroad, starting in the early 1960s. For decades, former Soviet and modern Russian nuclear enterprises have participated in building a series of plants in Eastern and Central Europe, as well as in many other regions of the world.
After a period of interruption in the early 1990s, Russia strongly restored this activity through Rosatom and member companies.
Currently, Russia leads the world in the number of nuclear power plant construction projects abroad, with 41 units being deployed in 11 countries.
In addition to building factories, Russia also plays a major role in the global nuclear supply chain, from fuel exports - accounting for about 17% of the world market share - to uranium enrichment services, uranium exploration and exploitation abroad.
According to Rosatom, the total value of international contracts of the group exceeded 200 billion USD in 2025.
The Paks Nuclear Power Plant, located in central Hungary, currently operates 4 units using VVER reactors built in the period 1983-1987. After the upgrade and extended life program, the plant reached a total capacity of 2,000 MW and currently supplies about 50% of Hungary's electricity consumption, becoming a pillar in the national energy system.
On that basis, Russia and Hungary signed an intergovernmental agreement on cooperation in using nuclear energy in 2014, paving the way for the Paks II project with 2 new units using the VVER-1200 reactor. The total investment of the project is estimated at 12.5 billion euros, of which Russia provides Hungary with a loan worth 10 billion euros.
In 2022, the Hungarian nuclear management agency licensed the commencement of unit No. 5, allowing Rosatom to begin construction activities.
By 2025, the Paks II project will be removed from Western sanctions packages, creating conditions for more favorable implementation. The first concrete pouring for the foundation not only marks an important step in Hungary's long-term energy strategy, but also helps Russia continue to affirm its position and influence in the global nuclear energy industry, especially in Europe.
