BRUSSELS, July 28 (UPI) -- The European Union and six partner countries have reached a deal on building and financing a nuclear fusion reactor in France, officials said.
The EU and China, India, Japan, the United States, South Korea and Russia agreed on a new funding level and construction timetable for the International Thermonuclear Experimental Reactor, BNO News reported Wednesday.
The agreement was reached after massive cost overruns and project delays almost derailed the project, the Dutch news service said.
The cost of the project was initially estimated at $6.5 billion with construction to be finished by 2018.
Updated figures in the new agreement say the ITER will be ready for operation by 2026 at a cost of $19 billion, with the EU covering half.