Foundry Congress Argentina - Heat Treatment Congress Argentina

Volkswagen announced a $580 million investment in Argentina to develop a new mid-size pick-up, replacing the Amarok, with production starting at the Pacheco plant in 2027. This reinforces the company’s focus on Argentina and the pick-up segment globally. The new model, exclusive to South America, will feature advanced technology and regional design. The Pacheco plant, which has produced over 770,000 units, will be upgraded for sustainability and efficiency. The current Amarok will continue being made in South Africa for other markets.

Argentina turned a $7.94B trade deficit in 2023 into a record-smashing $18-19B surplus in 2024, surpassing the previous high of $16.89B in 2009.

The trade balance in November recorded a surplus of US$ 1,234 million, and accumulated twelve consecutive months with a positive balance. In the period January-November 2024, a trade surplus of US$ 17,198 million was recorded.

Pan American Energy (PAE), the company headed by Marcos Bulgheroni, has just submitted its US$3 billion project to export LNG from Vaca Muerta to the RIGI. The second largest oil and gas producer in the country has joined the regime.

New Argentine Nuclear Plan will be designed in two stages, in the first one the construction of a SMR Reactor (Small Modular Reactors) will be carried out at the Atucha Site, accompanied by the development of the vast Uranium Reserves

Elon Musk runs six multi billion-dollar companies simultaneously (SpaceX, Tesla, X, xAI, Neuralink, and Boring Company)

Following Stellantis's strong investment in its Fiat Argentina plant, Renault Argentina confirms an investment of 350,000,000 USD for the manufacture of a half-ton pick-up truck at its Santa Isabel Factory in Córdoba. This pick-up truck will be produced only in Argentina and will have an export profile.

This investment to manufacture a new model in Argentina is part of the “International Game Plan”, which provides for the manufacture of 8 new models in international markets outside Europe with a global investment of 3 billion euros.

The tariff on various machines is reduced to 2% and the reductions already announced for moulds and dies.

"In Spain there is a good vision of what President Milei and the Minister of Economy are doing, in fact there are investment funds and companies that in the coming weeks and months will announce that they are coming to Argentina"

Sidersa, investment plan of 300 million USD, 360,000 tons of steel for construction per year and will create +300 direct jobs and 3,500 indirect jobs. Sidersa signed with IDB Invest to finance the project.

Marcos Galperin said that the Argentine recession is nearing its end. “The economy is turning around. We are optimistic about the economy in Argentina in the medium term, which has led us to invest again.”

Marcos Eduardo Galperin (born 31 October 1971) is an Argentine billionaire businessman, who is best known as the co-founder, Chairman, President and CEO of Mercado Libre. With an estimated net worth of $6.8 billion dollars, as of July 2024, he is the wealthiest person in Argentina.

A major gas player in Vaca Muerta will invest US$1.2 billion over the next three years to increase its oil production to 50,000 barrels per day. That is, multiplying its current level by 10, around 5,000 barrels.

Galan Lithium entered the Large Investment Incentive Regime (RIGI) with a new investment of US$200 million to advance the phase of its lithium project in the Puna region of Catamarca.

Argentina's stock market has surged more than 44% this year, making it the top-performing market in the world.

The rise follows the success of President Milei, whose performance has exceeded all predictions, driving investor confidence.

Milei's RIGI could bring USD 100 billion in investments to the country. The regulations RGI : USD 50 billion have already been confirmed.

Starting Monday, September 2, Argentina Tax rate for the import of goods and freight will be reduced from 17.5% to 7.5%.

Canadian mining company First Quantum will invest US$3.5 billion to develop a copper project in the province of Salta. The company plans to join the RIGI to move forward with the Taca Taca project.

Nine out of ten companies project an improvement in the economy within the next 12 months (survey 30 August 2024)

Argentina signed July 19th 2024 the tax reduction law to increase car exports, improving the competitiveness of Argentine automotive companies.

RIGI: perspectives and protection for large investments. Unprecedented tax, customs and exchange rate flexibility in recent history. It will guarantee stability to companies that invest from USD 200 million.

Global mining giant BHP Group and Lundin Mining will jointly acquire Filo Corp for C$4.5 billion ($3.25 billion)

The Government simplifies the import of steel and other key inputs for the economy with the aim of encouraging competition and lowering costs.

In addition, it announces the digitalization of Repostock, a process that was done on paper and that very few companies used and that will now allow more than five thousand companies to have tax benefits. In this sense, in order to reduce the Argentine cost, the Secretariat of Industry and Commerce of the Ministry of Economy decided to modify the technical regulation (RT) of steel. This allows simplifying and lowering the costs of the import process of this product, which in Argentina is up to 50% more expensive than the world average.

With this decision, 31% of steel imports will no longer have customs intervention and there will be greater supply, which will result in more competition and lower prices. The measure affects the main steel products for construction such as sheets (roofs, enclosures, supporting structures), profiles, round iron for concrete, meshes and beams, and tubes.

The Atucha I, Atucha II and Embalse nuclear power plants generated 1,174,116 MWh in July, the highest value in Argentine history.

IRSA President Eduardo Elsztain announced 10 mega projects that will require an investment of US$ 2 billion. Residential towers, shopping malls and gated communities. "It is a positive context for investing. Today there is someone who understands economics in a way we didn't have 40 years ago."

The Vaca Muerta Sur Pipeline project US$ 2 Billon has attracted the attention of one of the largest operators in the US, Energy Transfer, which a few months ago began a dialogue that could allow its participation in the financing and construction of the great project.

The US$2.5 billion investment will be made in partnership with a US group, according to statements by the executive. “This project will end the current bottleneck in the transportation of oil from Vaca Muerta,” said the former Tecpetrol executive.

Carlos Slim's Claro announces US$30 million investment in Argentina. The fall in inflation in the second quarter of 2024 has boosted the telecommunications company's revenues.

Mining production grew 3.3% year-on-year in June 2024 and accumulated an increase of 8.2% in the first half of the year.

NEW : privatization of four hydroelectric plants in the next 6 months : Alicura, Chocon, Cerros Colorados and Piedra del Aguila.

In June 2024, the Mining Industrial Production Index (IPI mining) prepared by INDEC shows a rise of 3.3% compared to the same month in 2023.

Meanwhile, the cumulative total for the first half of the year shows an increase of 8.2% compared to the same period of the previous year.

Diana Mondino received a delegation from the Canadian company CANDU Energy Inc. specializing in the design and management of nuclear reactors, as well as in products and services for nuclear reactors.

ENERGY : This ecosystem of national and multinational companies has managed to reverse our historic energy deficit of almost 7 billion dollars 10 years ago to a surplus of almost four billion dollars as of this year.

FORTESCUE, an Australian company, may use new RIGI regulations for a reversal that exceeds the U$S 8,400 million in Argentina.

The ban on importing auto parts is coming to an end. Homologation (CHAS) is going to be deregulated and you will finally be able to bring home that spare part you needed.

The YPF and Petronas project is part of the state oil company's so-called 4x4 Plan, a 10-year action plan that includes an investment of US$10 billion.

Rio Negro became the first province to officially join the Large Investment Incentive Regime (RIGI)

In the last two years, Argentina tripled its capacity to produce lithium carbonate, with four operating plants and dozens of projects (source CAEM)

The SME Export Monitor (MEP) reported that exportation are 4.8 million tons in the first seven months of the year, which represents an increase of 22.7% compared to the same period in 2023.

Argentina will stop importing natural gas from Bolivia in the coming months. It is the end of an era. The pipeline currently brings fuel from Bolivia. But with the reversal of its flow, it will be able to carry Argentine gas to 7 northern provinces, and a route to export to Brazil.

Patent registrations increased in August 2024 compared to August 2023.

+ 9%, 43,303 vehicles.

+️ 17%, 50,766 motorcycles.

+️ 19%, 1,495 agricultural machinery.