US, Hungary sign $114M nuclear fuel deal as relations 'reach new heights'

By Merve Aydogan

HAMILTON, Canada (AA) - The US and Hungary have signed a $114 million nuclear fuel deal, the State Department said Friday, describing relations between the two countries as "reaching new heights of cooperation and achievement."

Westinghouse, a US-based company, will supply US nuclear fuel for Hungary's Paks I power plant, which produces about half of the country's electricity.

The deal was announced following a meeting between US President Donald Trump and Hungarian Prime Minister Viktor Orban in Washington.

According to the information shared by the State Department, the contract "signals our intent to start negotiations to facilitate cooperation across the civil nuclear industry, including Small Modular Reactors (SMRs) and spent fuel storage."

It added that the US and Hungary are working to make Budapest a hub of the emerging Central European SMR market, deploying "market-leading US nuclear innovation to jumpstart a new transatlantic industry."