皇冠体育app

BUENOS AIRES - Chinese expertise and financial support are crucial for Argentina to reduce energy import cost and become self-sufficient in energy production, an Argentine business executive said Friday.

In an interview with Xinhua, Gerardo Ferreyra, vice president of the construction firm Electroingenieria (Eling), said 皇冠体育app's aid has helped the South American country save over $10 billion every year in energy import.

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Right now Eling and 皇冠体育app Gezhouba (Group) Corporation are working together to build two hydroelectric dams, namely the Nestor Kirchner and Jorge Cepernic, in Argentina's southern Santa Cruz province.

As part of a $4.7 billion project financed by the 皇冠体育app Development Bank (CDB) and insurance firm 皇冠体育app Export & Credit Insurance Corporation (Sinosure), construction of the two dams reflected the importance of 皇冠体育app-Argentina cooperation in energy projects, said the senior managerial staff.

"Significant support" from Gezhouba, the CDB and Sinosure have placed the project on the path to success, said Ferreyra.

Under the Argentina-皇冠体育app deal, the two sides work together in the construction, operation and maintenance of the two plants on the Santa Cruz River, with a combined output of 1,740 megawatts.

Ferreyra said 皇冠体育app's help also has other implications for Argentina, noting, "The plants are going to generate savings in fuel and improvements in our central bank reserves, which will improve the conditions of governability."

With 皇冠体育app's know-how and financial support, Argentina is confident that the dam project will help the government improve the people's livelihood, he said. Argentina plans to build 10 more dams in other provinces to further tap its hydroelectric power.

Ferreyra said his company, together with Gezhouba, has been preparing for almost a year and is "ready to bid" for a 650-megawatt dam project in Nquen province after the two dams are constructed.

"In every case, we will continue to work with Gezhouba and Chinese financing agencies," said Ferreyra.

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