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Russia, Argentina may launch hydro and nuclear power projects

June 28, 2013, 8:36 UTC+3
Within the framework of the meeting of the two countries’ business councils Russian companies presented their high-tech production
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Photo EPA/ITAR-TASS

Photo EPA/ITAR-TASS

BUENOS AIRES, June 28 (Itar-Tass) - Russia and Argentina have good opportunities for implementing large-scale projects in hydro and nuclear power industry, the chairman of the Russia-Argentina Business Council, Dmitry Titov, said after the meeting with his Argentinean counterparts in an interview with Itar-Tass on Thursday.

Currently, the sides “are conducting talks in three important directions, each could give a strong impetus to Russian-Argentinean trade and mutual investments,” he said.

This concerns cooperation in nuclear power, hydropower and Argentina’s Antarctic Programme.

“It is not only important that Russia may invest huge funds into these projects. It is more important that together with them as it repeatedly happened in other countries, many small and medium enterprises will come to the local market, which will result in localization of production in Argentina,” Titov said.

At the same time he noted that “some measures adopted by the Argentinean government will not contribute to larger and broader trade with Russia,” that in 2012 shrank by 16 percent to $1.6 billion as against 2011.

“If we want to expand bilateral contacts with companies and business representatives, it would be good to create more liberal rules in foreign trade,” he said.

Within the framework of the meeting of the two countries’ business councils Russian companies presented their high-tech production. In particular, research and production company Elektron proposed Argentinean partners advanced radiology diagnostics equipment. The firm Real Storm is ready to supply to Argentina high-pressure composite gas cylinders and basalt fibre based products.

“The current visit of Russian companies’ representatives to Argentina organized with the support of the Russian Economic Development Ministry and trade mission became to some extent a breakthrough,” as entrepreneurs connected not with raw material supplies, but with production of high-tech science intensive products came to Argentina, Titov said.

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