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State agrees to raise budget for Mochovce nuclear power plant

The government has made concessions to the majority stakeholder in the Slovenské Elektrárne (SE) power company, Italy’s Enel, and hiked the budget for the completion of the nuclear power plant Mochovce by further €260 million, according to the Hospodárske noviny daily.

The government has made concessions to the majority stakeholder in the Slovenské Elektrárne (SE) power company, Italy’s Enel, and hiked the budget for the completion of the nuclear power plant Mochovce by further €260 million, according to the Hospodárske noviny daily.

Enel urged the state to boost financing, arguing that if it did not the project would fail and some 10,000 people would lose jobs. Economy Ministry spokesman Stanislav Jurikovič said the step was necessary in order to prevent damages. The total amount for the construction of Mochovce NPP will now surpass €3.25 billion. The price of the Mochovce project has risen by nearly €1.5 billion and the deadline for completion has been shifted from this year to 2014 and 2015, the daily wrote in its Thursday, August 1, issue.

Approving plans to complete the two nuclear blocks in Mochovce has been blocked by Slovak state which holds a 34-percent stake in the NPP. State officials have not specified the reasons as of now. The SITA newswire wrote that SE started completing the Mochovce plant in 2008, singing contracts with main subcontractors on June 2009. SE is owned by the Slovak National Property Fund (FNM) with 34 percent of stakes, and the Italian Enel SpA, with 66 percent.

(Source: Hospodárske noviny, SITA)
Compiled by Zuzana Vilikovská from press reports
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