The US Department of Commerce is offering $3 billion to build a $3-billion, two-story tower in Mexico that will house the nation’s first nuclear power plant.
The Department of Energy announced Tuesday that it is providing $3 million in loan guarantees to Talon Construction to build the tower on a parcel of land in the northwestern Mexican state of Nuevo Laredo.
Construction of the tower is expected to begin in 2020 and to be completed in 2022.
The $3bn project would be the largest construction project in the country’s history.
The Department of the Treasury will make the loan guarantee payments over five years, with interest at 2.75 percent per year.
Talon Construction is an energy and construction engineering company based in Los Angeles, California.