Iranian-American Magnate Plans $1 Billion Nuclear Reactor Investment in Argentina

Argentine presidential advisor Santiago Caputo is reportedly channeling renewed energy into resolving issues that could deter foreign investment, including a significant nuclear project spearheaded by Iranian-American magnate Hamid Ansari. Ansari, known for his early investment in Elon Musk's SpaceX, is planning a substantial development in Argentina's nuclear sector.

Ansari has been seeking opportunities to develop modular nuclear reactors, approximately 300 MW in capacity, suitable for powering artificial intelligence projects. He has expressed strong interest in partnering with Invap, a high-tech company in Río Negro, leading to the formation of a joint venture called Meitner. In this venture, Ansari's family group holds the majority stake, with Invap owning 40%.

The plan involves building nuclear power plants on a large scale, akin to aircraft manufacturing, for global distribution. Argentina's engineers, described as being of "Canadian level" but at a third of the cost, are seen as a key asset. The company aims to raise significant capital by listing on an international stock exchange to finance the construction of these plants.

This ambitious venture, estimated to cost around US$1 billion for a single reactor, almost collapsed late last year due to disagreements within the libertarian government. However, the project is now gaining momentum, with Ansari expected to officially inform the government of his preferred location for the atomic energy reactor in the coming months. The initiative has generated excitement among young Argentine scientists, with the magnate's company attracting a significant number of recent graduates from the prestigious Balseiro Institute.