China inks $15 bil­lion Ar­gentina nuke deal

Kuwait Times - - BUSINESS -

BEIJING: A Chi­nese state-owned com­pany will fi­nance and build two nu­clear power plants in Ar­gentina, the en­ter­prise said, in a deal es­ti­mated to be val­ued at nearly $15 bil­lion. China Na­tional Nu­clear Corp will work with Ar­gentina’s state-owned com­pany Nu­cle­o­elec­trica to build the South Amer­i­can na­tion’s fourth and fifth re­ac­tors, CNNC said Mon­day in a state­ment posted on its web­site. The agree­ment was reached over the week­end at the G20 sum­mit in Tur­key. The Ar­gen­tine gov­ern­ment es­ti­mates the project will re­quire $15 bil­lion in fi­nanc­ing, Econ­omy Min­is­ter Axel Ki­cillof said in a state­ment is­sued by the coun­try’s Min­istry of Plan­ning an­nounc­ing the deal. China will pro­vide a por­tion of the fi­nanc­ing for the projects through in­vest­ment and bank loans at pref­er­en­tial rates, ac­cord­ing to the of­fi­cial state­ment. One re­ac­tor will use Cana­dian heavy-wa­ter tech­nol­ogy, while the other will fea­ture China’s lo­cally de­vel­oped Hua­long One re­ac­tor, CNNC said.

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