Allows the privatization of 8 public enterprises
27 Jun 2024
On 27 June 2024, the Congress of Argentina passed Law No. 27,742, known as the “Ley Bases” or “Bases and Starting Points for the Liberty of the Argentine People” in English. Among other, the Ley Bases authorizes the executive branch to privatize, totally or partially (depending on the entity), the following eight entities currently owned or controlled by the Federal Government:
- Energía Argentina S.A. (known as “ENARSA”), which engages in oil and gas exploration, exploitation and distribution, electric power generation, distribution and trade, and oversees the construction of major gas pipes and dams in the country;
- Agua y Saneamientos Argentinos S.A. (known as “AYSA”), which is in charge of the provision of water and of the sewer system in the City of Buenos Aires and parts of the Province of Buenos Aires;
- Belgrano Cargas y Logística S.A. and Sociedad Operadora Ferroviaria S.E which, respectively, operate the country’s main freight and passenger rail networks;
- Corredores Viales S.A., a concessionaire of several roads and highways in the country;
- Intercargo S.A.U., which provides ramp services in Argentina’s major airports;
- Yacimientos Carboníferos Rio Turbio, the coal mining company that runs the Río Turbio coal mine; and
-Nucleoeléctrica Argentina S.A., the nuclear power company that operates the three existing and operating nuclear power plants in Argentina.
On 2 August 2024, the Government of Argentina adopted Decree 695/2024, which was published in the Official Gazette on 5 August 2024. This regulation details the procedures to be followed for the sale or concession of strategic state-owned companies, which is a fundamental step in the implementation of the privatization law passed in June.
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Type:
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Entry and establishment (Ownership and control)
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Industry:
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Primary (Mining and quarrying)
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Services (Electricity, gas, steam and air conditioning supply, Water supply, sewerage, waste management and remediation activities, Transportation and storage)
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Sources:
