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US agency commits $688 million to 4 projects in Argentina

September 12, 2019

WASHINGTON (AP) — The board of the U.S. Government’s development finance institution has approved four projects worth $688 million in Argentina.

The Overseas Private Investment Corporation voted Wednesday to provide $300 million to a natural gas project in the Vaca Muerta field in Neuquén province in western Argentina. The board also approved $150 million to develop independent oil and gas transportation and processing infrastructure.

The two other projects are in the renewable energy sector. One for $115.5 million will go for a 100-megawatt wind power plant in the Buenos Aires province and $122.6 million will support a 100.5-megawatt wind power plant near Bajada Colorada in Neuquén province.

Argentina’s Foreign Ministry says the U.S. agency has committed a total of $1.1 billion for projects in Argentina.

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