According to Argentine Energy Secretary Dario Martinez, the construction of his country’s fourth nuclear reactor, the 1,200 MW Atucha III, is a top priority project for both China and Argentina, and project details were recently discussed in a virtual meeting with Argentine ambassador in Beijing, Sabino Vaca Narvaja, Martinez, and officials of the China Nuclear Energy Agency (NEA) and the Chinese National Nuclear Corporation (CNNC), La Opinion Austral reported April 6. This is one of several infrastructure projects that will likely be finalized when President Alberto Fernández makes his state visit to China in early May.
As Vaca Narvaja explained during the meeting, Argentina “has a very developed nuclear energy platform, with its own achievements and a unique scientific-technological base in the region. Building our fourth reactor, aside from expanding our energy sovereignty will place us in the vanguard of a sector whose development has been historic in our country.” NEA director Qin Zhijun particularly stressed how important nuclear energy has been in China’s development plans, including in dealing with the challenges of climate change.
According to most recent reports, Atucha III will be based entirely on China’s Hualong technology and will be built at the same complex in the town of Zarate, in Buenos Aires province where the Atucha I and II reactors are located. Financing will be made available through a consortium of Chinese banks, led by the Industrial and Commercial Bank of China, offering a concessionary credit for $7.9 billion, which covers 85% of the reactor’s cost; it includes an 8-year grace period—about the length of time it will take to build the reactor—and an extended repayment period of 12 years. The Argentines estimate that about 7,000 direct jobs will be created during the reactor’s peak construction period, in addition to many indirect jobs. The contract also stipulates technology transfer that will allow Argentina to produce nuclear fuel.
