China’s nuclear technology sector has made an important inroad to overseas markets with the signing of a US$15 billion deal with Argentina at the G20 summit in Turkey.
Its largest nuclear operator will help build two power plants in the South American country over 18 years, under the deal signed on Sunday.
The deal follows the signing last week of a technical cooperation agreement between nuclear energy regulators in South Africa and China amid controversial efforts by Africa’s most industrialised economy to build eight reactors.
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South Africa intends to select this year an international partner to build the reactors, aimed at ending the regular electricity blackouts that have hobbled the country’s economic growth, its energy minister said in May.
Five nations – China, Russia, France, the United States and South Korea – have been shortlisted to compete for the contract, worth up to US$50 billion.
For the deal in Argentina, mainland media reported state-owned China National Nuclear Corp (CNNC) would invest US$6 billion, or 85 per cent of the total financing, in the construction of Argentina’s fourth nuclear power plant, expected to have a capacity of 750 megawatts.
