China and Argentina sign £10bn deal to construct two nuclear reactors
China is fund and help to build two nuclear plants in Argentina in $15bn deal. The agreement signed on 15th November 2015, by the President of Nucleoelectrica Argentina SA (NASA), Jose Luis Antunez Argentina’s minister of federal planning Julio de Vido and China’s Chairman of the National Development and Reform Commission Xu Shaoshik, on the fringe of the G20 summit taking place in the Turkish coastal resort of Antalya.
China and the head of China National Nuclear Corporation (CNNC), Quian Zhimin, in the presence of will contribute 85 per cent of the required financing, which will secure energy supply in the future.
In July 2014, China and Argentina signed a new high-level agreement for construction of a third pressurised heavy water reactor (PHWR_ at the Atucha plant in Argentina. Under the agreement over 70 per cent of the components to be used in the plant Atucha 3 PHWR which cost about $6bn and take 8 years to build, will be supplied by Argentine companies. Atucha Nuclear power plant complex in Buenos is where the 335 MWe Atucha I and 745 MWe Atucha2 currently operate efficiently. Autcha 3 will be part Canadian developed Candu reactor running on natural uranium fuel like the 648 MWe Embaslse Candu reactor in Cordona province. CNNC operates two Candu 6 units at its Qinshan plant in China’s Zhejiang province.
The governor of the central bank of Argentina Alejandro Vanoli, struck a deal with the Central Bank of the People’s Republic of China on the side meeting of the World Bank/IMF meetings to and got a rescue package of $2bn loan back in October 2015. China also extended a fresh $5bn loan to Venezuela to increase its oil production in return, Chinese companies have been hired to help reach out output targets.