Connect with us

Hi, what are you looking for?

World

China will build two nuclear power plants in Argentina

Beijing has been reaching out, in Africa and in South America, strengthening its relations as well as becoming the “lender of last resort,” for many countries, according to ItemLive.com. Kirchner was effusive in her praise for what she called the “Worlds number one economy,” at the opening ceremonies.

Over the course of the three-day visit, a total of 15 agreements were signed, dealing with everything from travel visas, information technology, media, energy, space technology and financing. Getting China to build two nuclear power plants was the icing on the cake. Kirchner explained the nuclear plants would be built in Argentina using transfer of technology from China, calling the move a “gateway for the deepening of this strategic relationship.”

Even though the financial details of the nuclear plant deal were not discussed, Kirchner did send a message on her twitter account saying the IV Nuclear Plant and V Nuclear Plant require investments of $5.8 billion and $7 billion respectively, according to China Economic Net. China is also helping Argentina to rebuild its crumbling infrastructure. particularly the railway system which has been in decline since the 1940s. Highway construction and the building of the two hydroelectric dams is all part of the package.

“Long day, but very fruitful,” Kirchner’s Twitter account read earlier this week. “Argentina confirms its presence and importance in the No. 1 economy of the world. The reception couldn’t be better.” And her enthusiasm seems to point out Beijing’s new role as the lender of last resort for many countries in Latin America. With the collapse of the price of oil and other commodities, many of these countries have had to reign in their spending, and their economies are hurting.

The nuclear power plant agreement signed in Beijing
The 21st Century Business Herald reported on Feb 6 that the two countries signed an agreement to build “pressurized water reactor (pwr) nuclear power units in Argentina.” According to the agreement, China will provide financial support to the project if the Argentine nuclear project uses Chinese nuclear power technology. As part of the agreement, the China National Nuclear Corporation (CNNC) was appointed to execute the “cooperation agreement.”

If Argentina uses the CNNC technology, the country agrees to allow CNNC to fully participate in every aspect of the work, from design, equipment, construction, finance, and service, to fuel fabrication and fuel treatment. In any case, this would be a first for China in exporting nuclear technology to Latin America. The reactor being used is called the ACP1000, independently designed by CNNC.

Avatar photo
Written By

We are deeply saddened to announce the passing of our dear friend Karen Graham, who served as Editor-at-Large at Digital Journal. She was 78 years old. Karen's view of what is happening in our world was colored by her love of history and how the past influences events taking place today. Her belief in humankind's part in the care of the planet and our environment has led her to focus on the need for action in dealing with climate change. It was said by Geoffrey C. Ward, "Journalism is merely history's first draft." Everyone who writes about what is happening today is indeed, writing a small part of our history.

You may also like:

Tech & Science

The Tesla Cybertruck is the most searched-for future electric vehicle in the UK.

Business

The EU warned Apple that its App Store is breaching its DMA rules, placing the iPhone maker at risk of billions of dollars in...

Tech & Science

This points to extremely powerful rotating, magnetic winds helping this galaxy’s central supermassive black hole to grow.

Business

The recent surge in AI technology has shifted productivity in an office environment.