Lightbridge Corporation (LTBR)

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Argentina, China seal US$15B nuclear deal
Monday, November 16, 2015

BELEK, Turkey — Argentina signed two nuclear power plant construction deals with China yesterday worth around US$15 billion, which would add 1,750 megawatts to the energy already produced by Argentina’s three nuclear power plants in Argentina.

About 85 percent of the cost of the project will be financed by Chinese firms, to be paid back in 18 years at an annual interest rate below 6.5 percent. More than 60 percent of the supplies will be locally manufactured, while the rest will be imported from China, Economy Minister Axel Kicillof said after signing the agreements alongside Planning Minister Julio de Vido.

More than 90 percent of Argentina’s energy matrix relies on hydrocarbon resources. Natural gas is by far the most common fuel in thermal plants that dominate the country’s energy sources. That is followed by hydroelectric power and then nuclear power and renewable energy with less than one percentage point.

http://www.buenosairesherald.com/article/203033/argentina-china-seal-us$15b-nuclear-deal