Argentina and China signed a deal for Beijing to invest $10 billion in the South American nation's railways during a visit by the Argentine president.The agreements announced Tuesday during the visit by President Cristina Fernandez come as Beijing expands its role in Latin America through investments in oil and other industries and closer financial ties with the region's governments.

The railway deals include a $2.5 billion project to upgrade the rail system of Argentina's capital, Buenos Aires, Chinese news reports said. They said projects would include the purchase of Chinese railway technology.

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Posted by mopeng at July 14, 2010 10:17 AM