The Czech government will lend energy company CEZ a hefty sum of money for the expansion of its nuclear power plant in Dukovany, according to a press release by the Government Office on Thursday.
"We more or less agreed that the state will provide CEZ with a loan on very favorable terms for the state and CEZ," said Prime Minister Andrej Babis.
Deputy Prime Minister and Minister of Industry, Trade and Transport Karel Havlicek said a new nuclear power source is necessary to ensure the energy self-sufficiency of the Czech Republic and ensure a stable and affordable source of electricity. He noted that two of the three agreements between the Czech state and the company could be signed by the end of June.
The government has been in talks with the company about expanding its nuclear power operation and replacing older units, but high costs had been a matter of concern for officials.
A new unit for the power plant would cost an estimated 162 billion crowns (6.6 billion U.S. dollars), local media quotes CEZ CEO Daniel Benes as saying.
Editor:Cherie
