Argentina and the US sign US$7 billion ‘Andes-Atlantic Corridor’ initiative
The infrastructure agreement focuses on energy, mining, transport, and telecommunications projects La entrada Argentina and the US sign US$7 billion ‘Andes-Atlantic Corridor’ initiative se publicó primero en Buenos Aires Herald .
Argentina and the United States signed an agreement on Wednesday to launch the Andes-Atlantic Corridor initiative, a US$7 billion bilateral project aimed at developing strategic infrastructure by 2027. The agreement was signed in New York by Foreign Minister Pablo Quirno and U.S. Deputy Secretary of State Christopher Landau. The initiative focuses on energy, mining, transport, and telecommunications projects to enhance connectivity between Argentina's Andes region productive centers and Atlantic ports, facilitating product shipments to Western markets.
Of the US$7 billion financing, US$6 billion will go towards Argentina's LNG project, Vaca Muerta, a venture led by Argentina's state-owned energy company, YPF, alongside Italian multinational ENI and Abu Dhabi's XRG. The remaining funds will be allocated to projects linked to critical minerals, transport, and telecommunications.
The agreement introduces financial mechanisms to attract U.S. companies to Argentine infrastructure projects, utilizing tools from the U.S. Export-Import Bank and the U.S. International Development Finance Corporation. It also encourages private U.S. capital through direct loans, credit guarantees, and insurance services related to energy development.
Argentina pledged to strengthen its legal and regulatory framework for investments and establish predictable rules for infrastructure concessions, with RIGI serving as a primary tool to attract capital to major projects. The initiative aims to invest in pipelines, transport, power generation, and transmission infrastructure to alleviate bottlenecks hindering energy export growth.
It also plans to identify priority projects for upgrading railways, waterways, and ports, such as the Paraná-Paraguay waterway system and the Belgrano Cargas rail lines slated for privatization. Key areas for development include the rehabilitation and expansion of the Vaca Muerta shale oil and gas field to the Bahía Blanca port, along with projects focused on critical minerals like lithium and copper, electricity generation and transmission, telecommunications expansion, fiber-optic networks and submarine cables, satellite firm Arsat initiatives, and the deployment of strategic infrastructure technologies.
Written by urgent.news from Buenos Aires Herald's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
