Caixin
Nov 30, 2018 08:05 PM
BUSINESS & TECH

China Drives Deeper Into Argentina's Railway System

Members of the Chinese community in Argentina cheer as President Xi Jinping arrives at a hotel ahead of the G-20 leaders summit in Buenos Aires on Nov 29. Photo: VCG
Members of the Chinese community in Argentina cheer as President Xi Jinping arrives at a hotel ahead of the G-20 leaders summit in Buenos Aires on Nov 29. Photo: VCG

Argentina's government has signed a $1 billion deal with a Chinese state-owned rail-builder to upgrade a major cargo railway line running across the country that could help to lower the cost of shipping raw materials and grains, including soybeans, its main cash crop.

The agreement with China Railway Construction Corp. Ltd. will involve renovation and repair to the 1,020- kilometer (634 miles) San Martin railroad, which links the port city of Rosario in the east and Mendoza province in the west, Argentina’s state-owned media Telam reported on Thursday.

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