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China ratifies plan to finance nuclear plant

Disir

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China ratified its intention yesterday to build Argentina’s fourth nuclear power plant, which is set to be finished eight years from now. Meanwhile, President Cristina Fernández de Kirchner met with key Chinese business leaders in Beijing yesterday and will meet with Chinese President Xi Jinping today.

Federal Planning Minister Julio de Vido signed an agreement with head of China Nuclear Corporation (CNNC) Nur Bekri to ratify the joint work of both countries in the construction of the plant. The state-owned firm Nucleoeléctrica Argentina will be responsible for the construction and start-up of the project, while CNNC will provide goods, services and materials for local industry to build the supplies for the plant, 70 percent of which will be produced in Argentina.

“Governments of both countries entrust Nucleoeléctrica Argentina, company of the Federal Planning Minister, and China Nuclear Corporation to move forward with the work needed to sign the commercial contracts and arrange the loans to be provided by Chinese financial entities,” the agreement signed yesterday by China and Argentina said.

The nuclear power plant will use a CANDU reactor, which works with pressurized water and natural uranium and is similar to the one currently being used in the Embalse nuclear power plant. It will generate 800 megawatts and it will be built in the Nuclear Atucha Complex located in Lima, Buenos Aires province. The project’s cost is estimated at US$2 billion for supplies from abroad plus 32 billion pesos for works and local materials and is scheduled to be finished in eight years.

CFK meets with business leaders

Alongside a group of more than 30 leading Chinese business leaders, President Cristina Fernández de Kirchner gave her first speech in her visit to China to try to encourage them to increase the investment in Argentina, which she described as a “powerhouse of opportunities.”
China ratifies plan to finance nuclear plant - BuenosAiresHerald.com

You have to love that "free of conflicts" line.
 

elektra

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Candu, that is a heavy water reactor from canada, I am working on one now, Bruce 1. I have been to embalse to inspect that plant.
 

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