02:35 GMT +323 January 2020
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    The Russian Vnesheconombank (VEB) denied on Saturday media reports, that it would invest some $1.9 billion in construction of Chihuido-1 hydroelectric project in Argentina.

    MOSCOW (Sputnik) — Earlier in the day, media reported that VEB and Argentina’s Finance Ministry has signed an deal for implementation of the Chihuido-1 hydroelectric power plant project.

    "In relation to media reports on an investment deals signed by VEB and the Argentinian Finance Ministry on funding of Chihuido hydroelectric plant construction we have to inform that this is not true," the bank's statement reads.

    VEB admitted that it held talks with Argentinian officials and enterprises to discuss a set of hydroelectric projects on Friday.

    "We also discussed the ways to continue cooperation within Chihuido-1 project envisaging Russian equipment supplies. We agreed to provide the Argentinian side with information on investment opportunities," VEB statement added.

    In April 2015, Russia’s Inter RAO Group won a tender for the construction of the Chihuido-1 hydroelectric power plant on the Neuquen River, in Argentina’s Neuquen province. The power station will have a capacity of 637 megawatts.

    The Inter RAO company has also expressed interest in building the Chihuido-2 plant with a 296 megawatt capacity.


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