Holy Cross approved its accession to Large Investment Incentive Regime (RIGI) and, in this way, it joined the group of provinces that have already complied with the national regulations, which were sanctioned by Congress as part of the Bases law.
This Thursday, during the 16th Ordinary Session of the 51st Legislative Period, the Legislature of Santa Cruz approved the RIGI with the objective of “invigorate the provincial economy and position Santa Cruz on the energy and productive map of the country.”
Santa Cruz approved the accession to the RIGI
In this regard, the governor Claudio Vidal He noted that “today we took a step towards the future we want for Santa Cruz.”“This measure is the result of serious and committed work to generate the necessary conditions that attract investments, generate employment and improve the lives of our people,” evaluated.
The RIGI establishes tax and administrative benefits for investment projects exceeding 200 million dollars in sectors such as mining, energy and tourism.
“This is not a blank check for companies. “It is an agreement with clear rules and concrete demands: we want genuine employment, productive development and growth that is sustainable and responsible,” Vidal stressed.
The president highlighted that this measure is in line with the direction he is promoting for his management: that of changing the productive history of the province. “For decades we talked about our potential, but no decisions were made to make it a reality,” he said.
Vidal assured that the implementation of the regime will be accompanied by strict monitoring to guarantee that the projects directly benefit the people of Santa Cruz.
“We will not allow anyone to take what is ours without contributing something significant to this province. “This is a path of development that we will follow responsibly, demanding what is due to us and taking care of the resources of Santa Cruz,” ended.
In this way, the Patagonian district joined the group of provinces that had already joined the RIGI, after debate in the Legislature.
The first of them was Black Riverwhich voted for the law expressly, in the midst of the struggle with the province of Buenos Aires over the Liquefied Natural Gas (LNG) plant promoted by Petronas and YPF. Then they also joined Jujuy, Mendoza, Salta, Catamarca, San Juan and Chubutalthough in the latter case mining was excluded from the included activities.
Mega investment in Salta
The governor of Salta, Gustavo Saenzannounced that he met with the company’s directors Rio Tintowho confirmed that they will make an investment of 2,500 million dollars in that province to produce lithium carbonate and expand the capacity of the Litio Rincón project to 60 thousand tons per year.
This is the largest investment in a lithium project in the country and will be carried out in the Salar del Rincón. According to calculations, it will generate more than 3 thousand jobs and hundreds of local suppliers throughout its value chain.
“In the global context of the energy transition, Salta has established itself as an outstanding province to invest in. “We offer legal certainty, predictability, clear rules of the game, transparency, social license, care for the environment and its effective supervision,” Saenz indicated.
As the governor explained, the businessmen “ratified their willingness to join the RIGI, considering that Salta has been one of the first provinces to approve it by law.” ““We celebrate that Rio Tinto continues to choose Salta, allowing the growth and development of the province, which from the beginning of my mandate ratified mining as a State policy,” he added.
Rincón’s capacity to produce 60,000 tons of high-quality lithium carbonate for batteries per year includes the initial 3,000-ton plant and the 57,000-ton expansion plant. A useful life of 40 years is also estimated, with construction of the expanded plant beginning in mid-2025.
Source: Ambito
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