Argentina announced on Tuesday the construction of a new nuclear reactor near the capital, funded 100% by private investment, at a time when the National Nuclear Energy Commission is facing austerity measures.
The “first nuclear reactor financed 100% by private capital”, as stressed by the Argentine President, Javier Milei, is estimated at 1.2 billion dollars (1,051.85 million euros), and will create 2,000 jobs, according to the head of state.
The company Meitner Energy, with American and Argentine capital, “will invest 1.2 billion dollars in the construction of a 300-megawatt modular nuclear reactor at the Atucha facilities”, north of Buenos Aires, said the Presidential spokesperson, Adrián Ravier, during a press conference.
The announcement comes at a time when the National Atomic Energy Commission (CNEA) is at the center of a social conflict following layoffs.
The president of the CNEA, MartÃn Porro, fired 61 employees a week ago, who held “mainly administrative roles”. The decision sparked demonstrations in front of the institution.
According to the Association of State Workers (ATE), about a hundred employees out of the 3,000 who make up the CNEA were laid off last week and two executives submitted resignations.
The layoffs are part of austerity measures implemented by Milei in most sectors, including the nuclear sector.
Since taking office in 2023, the CNEA’s budget has been reduced by 58%, according to the Argentine media outlet Chequeado, which cited official data.
Argentina has three nuclear power plants in operation: Atucha I, Atucha II and Embalse, which contribute to generating about 8% of the country’s electricity production.
Only two other countries possess this technology in Latin America: Brazil and Mexico.
