Date: June 14
China is consolidating its presence in Argentina through an ambitious multi-purpose port project in Tierra del Fuego. This project is part of a broader strategy by China to strengthen its presence in Latin America.
The project, promoted by the company Shaanxi Chemical Group, includes the construction of a multipurpose port terminal and a 100MW power plant. In addition, a collection center for industrial and agrochemical inputs will be installed. The entire project will involve an investment of 1,250 million dollars.
This multipurpose port will be located a few kilometers from Antarctica, which will allow China to have strategic access to this region. In addition, the power plant will serve to cover local needs and supply the project itself.
This project occurs in a context in which Argentina has closed a series of agreements with China. These include financing for the dams in Santa Cruz, the Néstor Kirchner gas pipeline, and the entry of new Chinese firms into the electricity distribution market.
China has shown interest in participating in the financing of part of the Néstor Kirchner gas pipeline and in lithium exploitation projects in northern Argentina. In fact, the company Tibet Summit Resources, a mining company with several lithium exploitation projects in northern Argentina, announced investments in the province of Salta for more than 1.7 billion dollars.
In summary, the construction of the multipurpose megaport in Tierra del Fuego is a clear example of how China is strengthening its presence in Argentina and in Latin America in general. This project will not only benefit China, but will also boost Argentina's economic development and strengthen relations between the two countries.
Source: Andina Freight
