Argentina wants Russian-built nuclear power plants

An agreement on strategic partnership in the nuclear power generation sphere is to be signed by Moscow and Buenos Aires during Russian President Vladimir Putin’s visit to the South American country.

It will envisage “the possible construction of a major NPP (nuclear power plant), designed by Russia,” according to Russia’s ambassador to Buenos Aires Dmitry Feoktistov.

“Russia is ready to bring a ready-made project and its own financing to Argentina,” he said, adding that “we can build such a power plant, operate it and sell electricity to Argentine partners at a certain fixed price.”

Russian President Vladimir Putin will attend the G20 summit in Buenos Aires between November 30 and December 1. The sides will also discuss the possibility of joint construction or sale of a floating NPP.

READ MORE: Russian nuclear energy deals with Egypt reach almost $60bn

Global demand for Russian-built nuclear power plants is on the rise. Russia’s state nuclear corporation Rosatom expects to sign foreign contracts worth $26 billion this year for the construction and maintenance of nuclear facilities.

Russia is constructing NPPs in China, India, Iran, Turkey, Egypt, and a number of other countries. Earlier this month, Russia agreed the construction of new units at the Tianwan nuclear power plant in China which is the biggest joint NPP project between the two nations.

Construction work on Kudankulam NPP, the single largest nuclear power station in India, is also underway. The NPP was first agreed back in 1988 with the Soviet leadership.

Rosatom is also building Egypt's first NPP and, according to President Putin, Russia will contribute to setting up “a whole new nuclear power industry” in the country.

For more stories on economy & finance visit RT's business section