Government approves key energy, mining and automotive RIGI projects
Authorities greenlight new Vaca Muerta oil and gas project and Toyota investment to produce Argentina's first electric car La entrada Government approves key energy, mining and automotive RIGI projects se publicó primero en Buenos Aires Herald .
The Argentine government has approved a series of international investments totaling over US$27 billion in energy, mining, and automotive sectors. These projects, under the Large Investment Incentive Regime (RIGI), include a major oil and gas production initiative in Vaca Muerta, a Toyota electric car manufacturing venture, and a copper extraction project in Catamarca. The RIGI regime offers tax and currency benefits for large investments.
Pluspetrol and Gas y Petróleo del Neuquén are to invest US$12.4 billion over 25 years in Argentina's Vaca Muerta field, with the goal of producing 613 million barrels of crude oil and 50 billion cubic meters of gas annually. More than 90% of this production will be exported, and over 2,300 jobs will be created in construction and operations. The project's annual revenue is expected to exceed US$2.3 billion.
Glencore is investing US$4 billion in a copper extraction project, "Agua Rica," in the Andean province of Catamarca. The project is expected to produce 200,000 metric tons of copper annually, with US$2.167 billion in exports. Nearly 5,000 jobs will be created during the project's various stages, and local employment is a priority.
Toyota's US$1.3 billion investment in a new factory in Zárate, Buenos Aires province, will build a 100% electric car. The factory aims to export around 70% of its production, generating US$1.2 billion annually, and creating more than 3,600 jobs during construction and an additional 2,600 during operation.
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.
