Nucleoeléctrica could receive the Chinese credit

Nucleoeléctrica could receive the Chinese credit

The government advances in negotiations to change the financial engineering. Nucleoeléctrica could receive the credit that was in suspense.

Due to the impact of the agreement with the International Monetary Fund (IMF), the national government is advancing in the search for a new “financial engineering” for the construction of at least one of the two nuclear power plants with Chinese financing.

In this new scheme, and being the recipient of Chinese financing, Nucleoeléctrica Argentina could play a preponderant role, instead of the national State. “We thought of a PPP – public private participation – but we believe that Nucleoeléctrica Argentina will receive the loan,”assured the Undersecretary of Nuclear Energy of the Nation, Julián Gadano. “We are looking for a financial engineering that does not impact the national deficit”.

He acknowledged that it is possible that instead of two power stations, only one will be built, also taking into account the rejection given by Río Negro to the installation in that province of one of the power plants. “Maybe only one plant will be built, but we intend to start as initially planned. The project is not canceled, at all. That could lead to the signing of a contract in the visit to China in November by Chinese President Xi Jinping”.

In 2014 the financing agreed with Argentina was US $ 15 billion, which could now be limited to about half, as it moves towards the development of a single nuclear power plant. The  Argentinian embassy in Beijing has announced that the plant, which would correspond with Atucha IV, would demand an investment of US $ 9 billion.

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Arnaud Lefevre

Arnaud Lefevre is the Chief Executive Officer of Dynatom International. Arnaud is in charge of the international development of the business portfolio.