The evaluation committee of the Argentine incentive program, RIGI, is set to approve the construction of a steel plant in San Nicolas, a Buenos Aires province.
According to local reports, the plant, which will be built by Sidersa, requires investments exceeding $200 million and is projected to produce 360,000 mt of long steel products annually, primarily rebars.
The project was submitted to RIGI in June 2024.
The new plant is slated to commence operations by 2028 and will be the first industrial project approved by RIGI, as well as the first investment in the Argentine steel industry in over 40 years.
The large investments incentive regime (RIGI) applies to large-scale projects involving investments exceeding $200 million, providing benefits such as reduced income tax payments and reduced taxes on dividends paid.
Sidersa is a company engaged in the processing and sale of steel products.