The Ministry of Economy launched an international tender in August 2026 to concession the Belgrano, San Martín and Urquiza freight rail lines for 50 years, covering 7,594 kilometers of track across 16 provinces. The structure includes mandatory investment commitments, open access for multiple operators and eligibility for benefits under the Large Investment Incentive Regime (RIGI). Offers are due November 11, 2026, with adjudications projected for early 2027. Official estimates place required works at approximately US$800 million for track renovation, bridge rehabilitation and modernization of signaling systems. Grupo México has expressed interest in investing around US$3 billion contingent on RIGI access and regulatory stability guarantees.
Decree 1107/2026, published September 28, authorized the sale of state-owned stakes in thermoelectric plants Manuel Belgrano and José de San Martín. Energy Argentina (ENARSA) holds 65.01% of Manuel Belgrano and 68.83% of José de San Martín, both operating combined-cycle facilities with installed capacity near 800 megawatts each. The decree also covers Guillermo Brown plant once its trust liquidation concludes. Market sources estimate each stake at approximately US$300 million, though final values depend on competitive bidding.
Intercargo’s privatization remains stalled after a July 2026 auction received no valid offers despite a US$45.1 million base price. The government plans to relaunch the sale of the airport ground services company without a minimum price. Additional pending operations include a 44% stake in nuclear operator Nucleoeléctrica Argentina, where the state will retain majority control, and concessions for hydroelectric plants Futaleufú and the Diamante system. The privatization program, authorized under the 2024 Base Law, forms part of Finance Minister Luis Caputo’s strategy to address debt obligations totaling US$19.2 billion in 2026 and US$24.9 billion in 2027.
This article was curated and published as part of our South American energy market coverage.
