China will finance and build two nuclear power plants in Argentina in a deal worth up to $15bn underlining Beijing’s continued presence in Latin America despite its slowing economy.
The deal comes as China pushes to export homegrown atomic technology, often by offering cheap technology and generous financing. It follows its move last month to take a one-third stake in a French-led project to build the first in a new generation of UK nuclear plants.
The agreement with Argentina will see China provide most of the financing for the two new plants at a time when Buenos Aires is locked out of global credit markets.
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