nuclear-news

The News That Matters about the Nuclear Industry Fukushima Chernobyl Mayak Three Mile Island Atomic Testing Radiation Isotope

Argentina wants China to fully fund $8.3 bln nuclear plant 

Argentina wants China to fully fund $8.3 bln nuclear plant amid cash shortfall. By Eliana Raszewski, 6 Apr 22, LIMA, Argentina, (Reuters) – Argentina is pushing China to fully finance a new $8.3 billion nuclear power plant in the country, as the government grapples with high debt levels and looks to bring down its fiscal deficit as part of a recent deal with the International Monetary Fund.

The South American nation signed an agreement with the China National Nuclear Corporation (CNNC) for construction of a nuclear power plant in February. CNNC at the time said it would finance 85% of the cost, with Argentina shouldering the rest.

The country, however, now faces a tighter fiscal outlook. It needs to hit a fiscal balance by 2025 from a 3% deficit last year under terms of a recent $44 billion IMF program, including cutting billions of dollars in energy subsidies.

“We’re aiming for 100% in terms of financing from China to guarantee no delays given the problems we have with funding,” said Jorge Sidelnik, executive director of Argentina’s state operator Nucleoelectrica Argentina, the local partner…………………….     https://www.reuters.com/business/energy/argentina-wants-china-fully-fund-83-bln-nuclear-plant-amid-cash-shortfall-2022-04-05/

April 7, 2022 - Posted by | business and costs, politics international, SOUTH AMERICA

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: