The concept behind the Itaipu Power Plant was the result of serious negotiations between the two countries during the 1960s. The "Ata do Iguaçu" (Iguaçu Act) was signed on July 22, 1966, by the Brazilian and Paraguayan Ministers of Foreign Affairs, Juracy Magalhães and Raúl Sapena Pastor, respectively. This was a joint declaration of the mutual interest in studying the exploitation of the hydro resources that the two countries shared in the section of the Paraná River starting from, and including, the "Saltos del Guairá", to the "Iguaçu River" watershed. The treaty that gave origin to the power plant was signed in 1973.