Santa Cruz provincial government confirmed on Sunday that it had received a US$136 million loan from China in order to resume work on a hydroelectric dam, a project that has been paralyzed since December 2023. The total loan amounts to US$150 million, and comes from a consortium of banks led by ICBC and the Bank of China. While US$136 million was transferred to Santa Cruz, the other US$14 million will remain in China to pay suppliers. The dams are located 115 kilometers west of Puerto Santa Cruz. Last week, the Santa Cruz government held a meeting with representatives of Gezhouba and the Argentine Construction Workers’ Union (UOCRA), seeking to finalize the necessary agreements to restart the project.

Source: Bueno Aires Herald January 21, 2026 22:49 UTC