Business · Companies · 18 hrs ago
Hungary plans to finish Paks II project audit by year-end
Hungary plans to complete an audit of the Paks II nuclear plant project by the end of 2026.
The project is a major construction effort in Hungary, and its new government is gathering information before deciding how to proceed.
The audit covers the design, schedule, finances, technology and legal issues.
Paks II chief executive Attila Sagodi said he took charge four months ago and is still learning about the project.
The government says it needs more information to make a considered decision about what happens next.
Financing is complicated because the construction contract sets obligations for all parties, limiting what the government can decide on its own.
After the audit, officials will consider whether further investigation or work is needed.
Hungary plans to complete an audit of the Paks II nuclear power plant construction project by the end of 2026.
Paks II CEO Attila Sagodi said the review covers the project’s design, schedule, finances, technology and legal aspects.
The audit is intended to help officials identify whether further reviews or work are needed.
Sagodi said Hungary’s new government is gathering information before making decisions about the project.
He described financing as complex because the engineering, procurement and construction contract creates obligations for all parties.
- Who
- Hungary and the Paks II project leadership, including CEO Attila Sagodi.
- What
- Hungary plans to complete a formal audit of the Paks II nuclear power plant construction project.
- When
- By the end of 2026.
- Where
- Paks, Hungary.
- Why
- The government is gathering information to understand the project and make considered decisions.
This story does not have two clearly opposing sides.
Sagodi took over as head of the nuclear power plant construction project.
Sagodi said the formal audit was under way and expected to finish by the end of the year.
Officials will assess whether to examine issues in more depth or do additional work.
- Audit deadline
- End of 2026
- Project
- Paks II nuclear power plant construction project
- Audit scope
- Design, documentation readiness, work schedule, finances, technology and legal aspects
- Project leader
- Attila Sagodi, chairman of the board and CEO of Paks II
- Contract
- Engineering, procurement and construction (EPC) arrangement
What people are saying
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.
This is an extremely complex project for them and effectively the largest in Hungary.
The question goes beyond whether the government will provide funding.