China and Argentina have signed a memorandum of understanding (MoU) to renew their agreement on the construction of two new nuclear reactors in Argentina, as agreed in November 2015 between Argentina's national nuclear group Nucleoeléctrica Argentina SA (NASA) and China National Nuclear Corporation (CNNC).
CNNC will build the fourth and fifth nuclear reactors in Argentina, for a total investment of US$15bn, to which China will contribute 85%.
In February 2015, the Ministry of Federal Planning of Argentina ratified an agreement with the National Energy Administration of China and China National Nuclear Company (CNNC) on a project to build a fourth nuclear reactor in Argentina. An 800 MW Candu reactor should be built on the site of the Atucha power plant in Lima (Buenos Aires province). Construction is expected to start in the first quarter of 2017 for the first unit and in 2019 for the second unit and will take eight years.
Argentina has three operational nuclear power plants, Embalse, Atucha-1, and Atucha-2 (745 MW), commissioned and renamed "Nestor Kirchner" in 2014. The country plans to invest a total of US$31bn in nuclear power in the next decade, including in the construction of the 4th and 5th nuclear power plants.
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