July 12, 2018 / 4:24 PM / 9 months ago

Argentina suspends $2.2 bln dam to be built by Germany's Voith -La Nacion

BUENOS AIRES, July 12 (Reuters) - Argentina has suspended plans to build a $2.2 billion hydroelectric dam due to an austerity push as part of its $50 billion deal with the International Monetary Fund (IMF), newspaper La Nacion reported on Thursday.

Deputy Cabinet Chief Gustavo Lopetegui informed executives from Germany’s Voith GmbH, which was part of the consortium expected to build the dam in Neuquen province, of the suspension this week and explained that the government was not starting any new infrastructure projects, according to the report.

Argentina has pledged to reduce public works spending to help reach its target of cutting the fiscal deficit to 1.3 percent of gross domestic product in 2019 as part of the IMF deal.

Voith did not immediately respond to a phone call and an email seeking comment. A spokesman for Lopetegui did not immediately respond to a request for comment. (Reporting by Luc Cohen Editing by Alistair Bell)

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