Netherlands province finances new Pallas reactor

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The Nuclear Research and Consultancy Group (NRG) of the Netherlands and the province of North Holland are advancing together to achieve the realization of the new Pallas research reactor at Petten, North Holland, the Netherlands.

Petten in the North Holland province was selected as the establishment location, and an interim financial contribution of up to €2 million ($2.45 million U.S.) has been provided for the preparation of this new construction project.

"NRG is delighted with the news that North Holland is translating its ambition into an actual contribution," said Rob Stol, NRG director.

NRG is on course for public-private financing, with the emphasis on public finance in the initial phase of the project. A price tag of more than €500 million ($610.18 million) hangs on the new Pallas reactor, reported NRG.

It is expected that in approximately 10 years, Pallas will provide at least 500 direct jobs and a multiple of this as indirect jobs.