The governor of the province of Buenos Aires, Axel Kicillofrecently announced what it called “the largest investment in Argentina” in collaboration with the German company Oiltanking. This announcement, made on September 27, 2024, has generated a great stir in the political and economic sphere of the country, especially due to the dedication that Kicillof made to President Javier Milei during his speech.
The investment announced by Axel Kicillofwhich amounts to 500 million dollars, is intended for the expansion of the Puerto Rosales Terminal in Punta Alta, province of Buenos Aires. The main objective of this project is to enhance port capacity for the export of unconventional crude oil, increasing the structural capacity of the port by 50%.
This will allow greater movement of larger ships, thus facilitating the departure of oil from Vaca Muerta to international markets. The announcement of Kicillof It occurs at a time of political and economic tensions in Argentina. Oiltanking’s investment, in association with YPF, represents a significant geostrategic change for the country.
According to Kicillof, this work is a response to the criticism and challenges faced by his administration, and a demonstration of the provincial government’s ability to attract important investments without the need for special regimes.
During his speech, Kicillof He did not spare his criticism of President Javier Milei. He accused the national president of “losing investments” and “filling his mouth with lies,” in reference to Petronas’ decision not to participate in a $50 billion project in Río Negro.
Kicillof highlighted that, unlike the national administration, his government has managed to carry out this pharaonic investment with seriousness and capacity for compliance. The expansion of the Puerto Rosales Terminal will have a significant impact on the Argentine economy.
Works
The work is expected to double the volume of oil reception, reaching 310 thousand barrels per day. This will not only increase the country’s export capacity, but will also generate employment and development in the Punta Alta region.
The announcement of Axel Kicillof has generated various reactions in the political sphere. While the governor’s supporters celebrate the investment as a significant achievement, critics, especially Milei’s allies, have questioned the feasibility and actual impact of the project. The Chamber of Deputies of the province of Buenos Aires recently approved the Provincial Strategic Investment Regime, which grants tax exemptions to investors who promote projects of at least 5 million dollars.
follow us on Google News and on our channel instagramto continue enjoying the latest news and our best content.
