Argentina invests 277 million dollars in the construction of a new port on the Paraná River
The Argentine government has approved a large-scale investment project for the construction of a port on the Paraná River, with a cost of 277 million dollars. This was announced by Argentina’s Minister of Economy, Luis Caputo. The new port will be part of the Strategic Investment Stimulus Program (RIGI), which is being implemented to develop infrastructure and enhance the country’s economic attractiveness.
This is reported by AgroReview
Key role for the agricultural sector and industry
The port will be located in Santa Fe province on one of the country’s main agricultural waterways. It is intended for the storage and transshipment of grain, fertilizers, iron ore, steel, and fuel. This will optimize logistics and increase the export volumes of Argentina’s agricultural and industrial sectors.
The implementation of the initiative is being carried out by Terminal Timbúes S.A., which was the first in Santa Fe province to receive investments under the RIGI program. A few weeks ago, the company submitted a detailed proposal to the Argentine government for expanding its capabilities and strengthening its position among leading river trade operators.
Improving logistics and national infrastructure
It is expected that the creation of a modern port will significantly reduce the logistics costs for businesses in the region, as well as strengthen the connection between the river transport corridor and the country’s main highways. This will create additional conditions for export growth and enhance the competitiveness of Argentine products in global markets.
“With this latest project, the total investment under President Javier Milei’s RIGI program has reached 24.8 billion dollars,” noted Luis Caputo.