BUENOS AIRES, Argentina – Argentina says it will build the tallest building in Latin America.

President Cristina Fernandez says the 1,165-foot (355-meter) tower is expected to cost around $300 million and will serve as a centre for the entertainment industry, including television and movies studios “Hollywood” style.

Architectural plans released Wednesday depict it as being in the shape of Argentina’s map while an outdoor stadium for 15,000 people at ground level is shaped like the map of the Falkland Islands. The British territory in the South Atlantic is claimed by Argentina, which calls it Las Malvinas.

Fernandez says the building will be constructed on state lands with private funding. It will overlook the River Plate.

Argentina’s government is dealing with a recession and one of the world’s highest inflation rates.