In November 2004, the Argentine Government signed the “Memorandum of Understanding on Cooperation in Railway Activities between the Ministry of Commerce of the People’s Republic of China and the Ministry of Federal Planning, Public Investment and Services”.
The agreement contemplated an advance payment to the Chinese company for the equivalent in pesos of 370 million dollars, matched with a Treasury Bill in favor of CMEA. Until now, Argentina has been complying with the payments and only had to pay a maturity of 92.7 million of the North American currency.
With the new issue, the Argentine government postpones payment for two years, until September 2024, without accruing interest, which is promised to be paid in full at maturity.
The agreement contemplated the renovation of more than 100 kilometers of Belgrano Cargas tracks, the improvement of 200 kilometers of track and the construction of new bridges.
The construction of the so-called “Circunvalar de Santa Fe” was also planned, new rail accesses to the ports in Gran Rosario, and reconstruction works of roads and bridges, in the layout of the Belgrano line that runs through the provinces of Salta, Jujuy, Tucumán , Chaco, Santa Fe and Cordoba.
Source: Ambito
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