The Minister of Economy, Luis Caputo, announced that the Government received the support of the first three projects to the Large Investment Incentive Regime (RIGI) for a total of US$1.5 billion.
The reception of the first investments follows the regulation of the operation of the RIGI that was made official by the Executive last week, allowing companies to begin applying for their investment projects through the Remote Procedures (TAD) platform.
By regulating the operation of the regime, the conditions, deadlines and requirements that companies must meet to obtain official certification and fall within the tariff, tax and exchange benefits contemplated by the program were established.
In this framework, the head of the Treasury Palace reported through his X account that “the first 3 projects were submitted to the RIGI for approval, for a total of 1.5 billion dollars.”
The deadline for the approval of each project is 45 days from its application in TAD, so the investment could only be validated by the end of the year. The evaluation process will be in charge of the Ministry of Economy.
In the first instance, the projects will be technically analyzed by the Undersecretary of Industrial Policy and will subsequently be considered by an evaluation commission made up of the Head of the Cabinet of Ministers and in which the Secretariat for the Coordination of Economic Affairs intervenes. Energy and Mining, the Production Coordination Secretariat, the Treasury Secretariat and the Finance Secretariat.
Ultimately, the Commission will issue a recommendation that will allow the portfolio headed by Caputo to make the final ruling on the viability of each initiative.
Previously, the first investment project of more than 200 million dollars had already been known, the minimum amount to be able to apply to the regime, which will consist of the construction of a photovoltaic solar park by YPF in conjunction with the Mendocina Energy Company (Emesa ), as reported by the presidential spokesperson, Manuel Adorni.
In this regard, the official specified that “the first project was entered thanks to the Large Investment Incentive Regime (RIGI): the investment will be about 220 million dollars to promote the development of a solar park in the province of Mendoza.”
In this sense, the governor of the Cuyo province, Alfredo Cornejo, also expressed himself in the El Quemado project with an installed capacity of 200 MW, developed in our government by EMESA. The Municipality of Las Heras will be an active part of this project.
Likewise, he recalled that “within this regime, companies will be exempt from paying stamps and gross income, a direct incentive for investment and development” and specified that “the project is contemplated in two stages and the total capacity is 305 MW, which reaffirms the great potential of this initiative and its positive impact for Mendoza.”
Source: Ambito
