China has inked a contract with Argentina to build the $8 billion Atucha III nuclear power plant, resurrecting a project that had been lying dormant for years. China’s domestically designed third-generation ‘Hualong One’ technology would be used in this project.
The agreement was signed between state-owned China National Nuclear Corporation (CNNC), several of its subsidiaries, and Nuclear Power Plant Argentina, CNNC posted a message in its WeChat account on February 1. The pact covers the engineering, procurement and construction (EPC) of the Atucha III Nuclear Power Plant.
The deal was discussed before President Alberto Fernandez’s visit to China later this week. This year also marks the 50th anniversary of the diplomatic relations between the two countries. It will be the fourth nuclear power station in the South American country.
“Nuclear projects cooperation is a key component of the two nation’s comprehensive strategic cooperation,” Beijing-based CNNC said in a statement. In 1985, the two countries inked a cooperation agreement on the peaceful use of nuclear energy.
The nuclear pact had been in limbo since it was first negotiated by previous President Cristina Fernandez, a left-wing politician who left office in 2015. Fernandez is currently serving as vice-president.
The agreement is consistent with Argentina’s ‘comprehensive strategic alliance’ with China, a high diplomatic status reserved by Beijing for its friendly nations.
Significance Of The Project
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