Funding projects: China announces heavy investments

Chinese president announces huge investments in hydroelectric power, shipbuilding, railways.

BUENOS AIRES: Visiting Chinese President Xi Jinping announced huge investments in hydroelectric power, shipbuilding, railways and a deal to help Argentina build its fourth nuclear plant. No total dollar figure was given. Xi has pressed a charm offensive with Latin America since arriving in Brazil earlier this week. Friday saw Argentina in the spotlight, with Xi signing more than 20 agreements with President Cristina Kirchner on the first day of his three-day visit. Among the agreements was a bilateral “strategic partnership,” similar to others signed with emerging nations such as Brazil. “I want to emphasise that we have signed an agreement to raise the level of our relations in order to turn them into a strategic partnership, along with investments in oil, mining, the nuclear field, agriculture and plant diseases,” Xi said, from the Casa Rosada presidential complex.

Published in The Express Tribune, July 20^th, 2014.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.