Rolls-Royce signs collaboration agreement with Hungarian nuclear plant

Portfolio
Rolls-Royce has signed a Memorandum of Understanding with Hungarian state-owned MVM OVIT National Power Line Company Zrt., part of the MVM Group, to explore how they can work together on the provision and maintenance of Instrumentation and control (I&C) systems for the second reactor planned to be built at the Paks nuclear Power Plant in Hungary, the company announced on Tuesday.
“We are pleased to work with MVM OVIT and explore the potential areas where we can work together to deliver world-leading I&C systems for the Paks nuclear power plant," Neil Parison, director of strategic nuclear accounts at Rolls-Royce, said.

Rolls-Royce’s nuclear division is currently modernising a range of safety-class I&C systems on the VVER-designed Loviisa nuclear reactors in Finland.

Paks currently comprises four Russian-supplied VVER-440 pressurized water reactors, which became operational between 1982 and 1987. These units account for about half of Hungary's electricity production. An inter-governmental agreement signed in early 2014 would see Russian enterprises and their international sub-contractors supply two new VVER-1200 reactor units at Paks.
 

More in Business

KKV-vállalkozás-versenyképesség-felmérés-kutatás-makroökonómia-koronavírus-gazdaság
August 19, 2025 11:17

Ráhel Orbán sells business to husband's holding

Family ties

GettyImages-1358049866-árfolyam-befektetés-elemzés-gazdaság-grafikon-kereskedés-pénzügy-piac-részvény-tőzsde
August 15, 2025 10:40

Hungary 4iG increases capital in space and defense subsidiary

HUF 36 billion in the first phase

August 14, 2025 13:42

Hungarian Mészáros Group acquires stake in major Slovak construction company

Deal to be finalised by end-October

elektromos autó akkumulátor
August 13, 2025 09:02

Green lincence plate registrations drop m/m in Hungary in July after surge

Almost 82,000 BEV passenger cars on the roads

August 12, 2025 12:38

Significant growth at Mol's Croatian subsidiary

Profit up 21% yr/yr

GettyImages-2179152022-bankjegy-fizetés-gazdaság-jövedelem-készpénz-költés-pénz-pénzügy-valuta
August 12, 2025 09:20

Hungarian companies must publish pay gap reports from next year

Under EU directive

LATEST NEWS
Charting is displayed using TradingView's technology, a platform, where you can build advanced charts, spot upcoming trends in the stock screener, and find inspiration in multiple trading ideas

Detailed search