China to build two nuclear plants in Argentina

Deal between countries worth up to $15bn

 President of the Argentine state nuclear energy company  José Luis Antunez  and China National Nuclear Corporation  general manager Quian Zhimin  sign an agreement to build nuclear power stations. Photograph: Getty Images

President of the Argentine state nuclear energy company José Luis Antunez and China National Nuclear Corporation general manager Quian Zhimin sign an agreement to build nuclear power stations. Photograph: Getty Images

 

China will finance and build two nuclear power plants in Argentina in a deal worth up to $15 billion, underlining Beijing’s continued presence in Latin and South America, despite its slowing economy.

The deal comes as China pushes to export its homegrown atomic technology, often by offering cheap technology and generous financing.

The agreement with Argentina will see China provide most of the financing for the two new plants at a time when Buenos Aires is locked out of global credit markets. – Copyright The Financial Times Limited 2015