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Dhaka Saturday,  Jun 15, 2024

China invest in Argentina for power, shipbuilding and railways

Visiting Chinese President Xi Jinping announced Friday huge investments in hydroelectric power, shipbuilding, railways and a deal to help Argentina build its fourth nuclear plant.
Xi has pressed a charm offensive with Latin America since arriving in Brazil earlier this week.
Friday saw Argentina in the spotlight, with Xi signing more than 20 agreements with President Cristina Kirchner on the first day of his three-day visit. Among the agreements was a bilateral “strategic partnership,” similar to others signed with emerging nations such as Brazil.
“I want to emphasize that we have signed an agreement to raise the level of our relations in order to turn them into a strategic partnership, along with investments in oil, mining, the nuclear field, agriculture and plant diseases,” Xi said, from the Casa Rosada presidential complex.
China will contribute $4.4 billion toward the construction of two hydroelectric dams in Argentina’s southern Santa Cruz province and an additional $2.1 billion to remodel strategic rail transport for carrying goods, especially food. It will also contribute $423 million for construction of 11 ships.
“In today’s world, the best opportunities occur for emerging nations, as demonstrated in the recent BRICS summit in Brasilia,” Kirchner said.

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