5 February 2002

The state owned electricity company Hungarian Electricity Works (MVM) has signed a 15 year power purchase agreement with AES Tisza Power Plant, a subsidiary of the US company AES. Under the terms of the contract AES has agreed to buy power produced by the four 215 MW units at the Tisza II station. As part of the deal, AES has also agreed to discontinue court cases filed against the Hungarian Government, MVM and the State Privatisation and Holding Co.

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