The Argentine Finance Ministry and Russia’s Vnesheconombank signed an agreement on financing construction of the Chihuido I hydropower plant in the amount of $1.9 billion, the ministry said in a press release.
This covers 85% of the project’s estimated cost of $2.23 billion.
In April 2015, Russia and Argentina signed about twenty agreements during President Cristina Fernandez de Kirchner’s official visit to Russia. The package included an agreement on implementation of the Chihuido I project.
The Russian company Inter RAO Export will be the nominated subcontractor in charge of supplying electric and hydromechanical equipment. It is a member of a consortium of Argentine engineering companies led by Helport SA, which the Argentine government named as the winner of a governmental bidding contest in December 2014. (Tass/Business World Magazine)
