Russia’s state-run nuclear corporation Rosatom will set-up two reactors in Hungary at the Paks nuclear power plant (NPP).
The Hungarian Government has confirmed the contract, which will involve units 5 and 6 being constructed at the NPP.
The units will house Rosatom’s VVER-1200 reactors, and are expected to each have a generation capacity of 1,200MW.
Rosatom head Sergei Kiriyenko said: "We got a confirmation from the government of Hungary that everything has been agreed, everything remains unchanged.
"Everything has been confirmed, the contract has entered force."
The confirmation comes after a series of signed deals in late-2014.
The reactors are expected to start operations by 2023.
Russia has supported the project with a loan of up to $11bn, which Hungary intends to repay after the nuclear reactors are operational.
Located around 62 miles to the south of Budapest and 5km distance from the Paks town in central Hungary, the nuclear facility is the only one in the country.
Paks NPP presently meets more than one-third of Hungary’s power requirements with its four installed VVER-440 reactors.
Image: Paks nuclear facility in Hungary. Photo: courtesy of Barna Rovács (Rovibroni).