Hungary plans to complete Paks II audit by year-end

Detailed summary

Attila Sagodi, chairman of the board and CEO of Paks II, said Hungary’s new government is very interested in the project, but decision-makers do not yet have all the information they need

ANTALYA /Turkey/, November 14. /TASS/. Hungary plans to complete its audit of the Paks II nuclear power plant construction project by the end of this year, Attila Sagodi, chairman of the board and CEO of Paks II, told TASS.

"I took over as head of the nuclear power plant construction project just four months ago, so I’m still gaining experience and learning about the project. We’re now conducting a formal, thorough audit of the entire project, covering everything from the design, the readiness of the design documentation and the work schedule to the financial, technological and legal aspects. We plan to complete the audit by the end of this year, then see whether we need to look into any issues in more depth or do any additional work," Sagodi stated.

He said Hungary’s new government is very interested in the Paks II project, but decision-makers do not yet have all the information they need. "They’re gathering that data now. This is an extremely complex project for them and effectively the largest in Hungary. Everyone recognizes that, and those in leadership positions need to get into the details and understand what’s happening. Only then can they make a considered decision and choose the right course," he said.

Sagodi highlighted that financing is also a complex issue. "The question goes beyond whether the government will provide funding. The EPC contract has a complex structure that imposes obligations on all parties, so the government can’t simply decide to do things in a way they want to. Officials are seeking the information they need to make an informed decision and take the right action," he pointed out.

An engineering, procurement and construction (EPC) contract is a turnkey arrangement under which a single general contractor handles the entire project, from preparing the design documentation and supplying equipment to construction, installation and commissioning.

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