14 July 2010

ARGENTINA: China Promises $12 Billion For Rail System; No Soy Settlement Yet.

BLOOM/     President Cristina Kirchner and Chinese Vice-Premier Hui Liangyu signed agreements for assistance on railway and subway projects totaling $12 billion USD. Under the contracts, China will provide an export credit for purchase of  locomotives and will help with the construction of a light rail system, subways and the electrification of rail lines. The two nations continue to negotiate a dispute over soy oil imports...which have been reduced from 70% to 1%.