China’s state-owned China National Nuclear Corp. (CNNC) has signed a contract with Nucleoeléctrica Argentina S.A. to construct the Atucha III atomic project using China’s Hualong One technology in Argentina.
The CNNC on its WeChat account late on Tuesday said that signing the engineering, procurement, and construction (EPC) deal marked an important milestone in nuclear ties and would help both the nations tackle the challenges of climate change jointly.
Progress on the nuclear agreement between the two key trading partners had stalled since it was first negotiated by the government of former President Cristina Fernandez, a left-wing populist who exited office in 2015 after striking several agreements with China.
In the past, the Atucha III nuclear project has been reported to be worth up to $8 billion.
China developed Hualong One, a third-generation technology for pressurized water nuclear reactor power plants. The Hualong One nuclear plant technology was developed to rival Europe’s Evolutionary Pressurized Reactor (EPR) technology and Westinghouse-developed AP1000.
China began operating its own Hualong One reactor in the southeast province of Fujian.
After Pakistan, the Argentina project will be the second overseas location using China’sHualong One plant technology.
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