CNNC inches toward $6b deal in Argentina

State-owned China National Nuclear Corp is inching closer to a $6 billion deal with Argentina to build the Latin American country's fourth nuclear plant.

The nuclear giant has wrapped up talks for the fourth reactor and signed a framework agreement for a fifth plant. That fifth one is expected to use China's home-grown nuclear technology, according to CNNC sources.

CNNC will work with Nucleoelectrica, the state-owned nuclear operator of Argentina, on the fourth reactor, Atucha 3, which is expected to cost about $6 billion. Construction of the Atucha Nuclear Power Plant Complex in Buenos Aires province is expected to be completed in eight years.