ROSATOM maintains interest in investing in Argentina as part of the expansion of the local park planned by the Government
13 November 2016 |

"The current government has a more pragmatic approach than the previous one"

The Russian state nuclear power company maintains interest in investing in Argentina as part of the expansion of the local park planned by the Government.

The investment possibilities of the Russian state nuclear company Rosatom in Argentina appear increasingly close as part of the plan to expand the nuclear energy park planned by the Government. These investments are not small amounts, since a new plant demands investments of more than u$s 5000 million. The president of Rosatom Overseas, Evangeline Pakermanov, inaugurated this week a seminar in Buenos Aires, where he agreed with the undersecretary of Nuclear Energy, Julián Gadano, on the good complementarity and possibilities of cooperation between both countries.

Is Russia interested in investing in a new nuclear power plant in Argentina?

Rosatom is a global company with projects in more than 40 countries. Therefore, we cannot exclude a potential partner with a sustained historical development in the nuclear sector. Among our countries there is always good communications. We discussed with the previous government the prospects for cooperation in this area and we thank the new government very much for the interest in our possible cooperation. We cannot talk yet about specific projects because deadlines are not set. In addition, it is a large project that requires a very detailed analysis. We are now only building and strengthening relationships as the basis for large projects.

Did the change of government modify your investment prospects?

There was never an agreed decision on investments in Argentina. Everything was discussed at a hypothetical level. My personal opinion is that the new Government has a different approach than the previous one, it is more pragmatic. In a very short time, many things were done, such as rebuilding investor confidence to finance sectors of the economy. It is demonstrated in the transparency of the conditions of the projects and the currency market became more liberal. This favors investment in Argentina.

Do you see opportunities in Latin America in a context of slower growth in the region?

Although the region shows different rhythms of growth, it does not lose appeal to the projects. Brazil, Mexico and Argentina have a great history in nuclear energy, which guarantees the possibility of collaboration. We started a project of a research center in Bolivia, in which I hope we can participate together with Argentina.

In the last year the Company’s international orders grew, is there more interest in nuclear energy?

It is easier to name countries where there is no interest. Some are replaced by renewable energy, but only economically strong countries can afford this. Renewable sources do not guarantee the basic generation of energy on a permanent basis.

How did you manage to reduce the costs of the company?

In the last 10 years it has changed dramatically. We accept the challenge of being a leading and global company. We made structural changes, we worked to increase efficiency and finish with the unnecessary. In addition, 10 years ago we were oriented to the domestic market and now the foreign portfolio of orders and the profit share of foreign projects are growing rapidly. The amount of exports of Rosatom reached US$ 110.000 million. We have never abandoned a project for political, economic or technological reasons, which gives us an impeccable prestige.


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