Foreign

China Signs $6 billion Nuclear Plant deal with Argentina

November 16, 2015

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Reactor's cooling towers are seen at the Tricastin nuclear power plant, on August 27, 2008 in Bollene. Vue d'une cheminée de la centrale nucléaire du Tricastin, le 27 Août 2008 à Bollène. Areva va investir 20 millions d'euros supplémentaires pour renforcer la surveillance environnementale autour de ses installations du Tricastin, à la suite du rejet, dans la nuit du 7 au 8 juillet, de 74 kg d'uranium rejetés dans l'environnement après le débordement d'une cuve à l'usine Socatri, filiale d'Areva de Lapalud. AFP PHOTO / JEFF PACHOUD (Photo credit should read JEFF PACHOUD/AFP/Getty Images)

State-owned China National Nuclear Corp (CNNC) has signed a $6 billion deal for the construction of Argentina’s fourth nuclear power plant.

Argentina’s fourth nuclear power plant, specifically the Atucha nuclear power plant Unit 3 reactor, will be installed with the capacity of 750,000 kilowatts, costing nearly $6 billion.

China will provide loans covering 85 percent of the total investments. The Nucleoeléctrica Argentina SA (NASA) will operate the facility after its completion.

The negotiation of a fifth nuclear power plant has also been initiated, which will implement Hualong One, China’s self-designed Integrated Pressurized Water Reactor (IPWR) technology.