Péter Szijjártó: work on the Paks II. project is progressing well

11/7/23 7:35 AM
– We have excavated 1,5 million cubic meters of soil, almost two thirds of the cut-off wall is completed, and last week we started the soil consolidation – Péter Szijjártó said about the latest news of Paks II. in Pécs.

The Minister of Foreign Affairs and Trade spoke at the Joint Venture Association's (JVSZ) Country Ride event in Pécs about Hungary's best investment support system in Europe. He highlighted that the government will shift the strategic focus of investment promotion to Southern Hungary after balancing the capital and investment attraction ability of the eastern and western parts of the country. Referring to the most significant investment in the region, the Paks II. project, the minister emphasized that it was an international project involving American, French, German, Austrian and Swedish companies. Szijjártó confirmed that the Paks investment is necessary. – We have excavated more than 1,5 million cubic meters of soil, almost two thirds of the cut-off wall is now complete, and last week we started the soil consolidation – he said.


Gergely Jákli, Chairman-CEO of Paks II. Ltd., provided further details on the need for the project. As he said, the Hungarian power plant fleet is ageing, storing electricity is currently not economically viable on an industrial scale, and new capacities are needed to meet the growing demand.

He pointed out that, in addition to the construction of two new units of Paks, work is also underway to extend the lifetime of the plant's currently operating units. Nuclear energy is sustainable and carbon neutral, and it also requires the least land compared to renewable energy sources.

The Paks II. investment covers an area of 300 hectares, of which the nuclear power plant itself will be built on 120-130 hectares. The soil consolidation work that started last week, will reinforce the area under the two new units, further increasing safety.

The Chairman-CEO of Paks II. Ltd. emphasized that in order for domestic companies to join the Paks II. project, in addition to having export experience, nuclear qualification is required. – The suitability of both the company's own suppliers and those to be involved by the Contractor will be checked by Paks II. Ltd. during the nuclear qualification procedure – Gergely Jákli said. He added that a significant market will open up for the companies involved in the Paks II. project, as many countries in Europe and around the world have decided, like Hungary, to extend the operating life of their existing units or even to build new nuclear power plants.

The Joint Venture Association, which brings together Hungarian and foreign small, medium-sized and large companies, and whose board member is Chairman-CEO Gergely Jákli, has been helping its member companies to operate in Hungary for nearly four decades. Its main task is to support the crucial role of its member companies in the economy and to actively represent their interests in close cooperation with the government.