LatinNews Daily - 31 May 2023

In brief: Argentina’s Massa announces Chinese investments

* Argentina’s economy minister, Sergio Massa, has announced nearly US$1bn in new investments from Chinese firms. Heading up a delegation which includes energy secretary Flavia Royón and Máximo Kirchner, a national deputy and the son of Argentina’s Vice President Cristina Fernández, Massa is on a five-day trip to China which began on 29 May. Yesterday he announced that Chinese construction and engineering firm China Gezhouba Group (CGGC) would continue to finance the completion of dams in Argentina’s Santa Cruz province with a new investment of US$524m, and would invest US$70m in water treatment plants in Buenos Aires province. Yesterday he also announced that Chinese electricity utility firm State Grid would invest US$330m in a project to improve electricity distribution in the metropolitan area of Buenos Aires. He also held a meeting with representatives from engineering firm Power China where the possibility was discussed of the Chinese firm financing the second section of the Néstor Kirchner gas pipeline, a major natural gas pipeline in the Vaca Muerta shale basin in Neuquén province. Other agreements announced include the approval of new protocols regarding phytosanitary requirements for Argentina to export corn and sorghum to China. During his visit Massa is due to discuss lithium and trade as well as the possibility of renewing a renegotiating a swap line with Beijing, among other topics.

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