Photo: Represa Río Mayo.jpg By: Noslenb9 Source: WikiCommons.
In a meeting in Buenos Aires with Argentine Minister of Economy Sergio Massa, representatives from China Gezhouba Group Corporation (CGGC) announced that, before the end of June 30th, the company will disburse $500 million to finance the construction of two hydroelectric dams in the province of Santa Cruz, Argentina. It is expected that the first turbine of this energy generation project will be operational in the first quarter of 2025.
Additionally, the Ministry of Economy highlighted in a statement that the disbursement “will have a positive impact on the reserves of the Argentine Central Bank, amid the loss of foreign currency due to the severe drought that the country has experienced in recent months.” On the other hand, Massa revealed that a technical team from the Argentine government will travel to China in the second week of May to expedite the processes related to the financial program of the project.
Top headline:
Ministerio de Economía de Argentina. (2023, 24 de abril). Gezhouba le anunció a Massa que desembolsará USD 500 millones para la construcción de las represas de Santa Cruz.
Find out more:
DangDai. (2023, 25 de abril). Gezhouba desembolsará 500 millones de dólares por represas del Sur.