Companies still invest in projects in Argentina

Sep 21, 2001 02:00 AM

Despite the economic crisis in Argentina, companies still invest in projects in the country. In the first half of this year investments of $ 20,975 mm were announced for 2001, which is over 13.9 % of the announced investments in 2000. The telecoms sector only concentrates 25 % of this figure according to the database of CEP (Centro de Estudios para la Produccion).

This investment corresponds only to capital creation like new plants and capacity expansion without including acquisitions and mergers with which it would reach the highest level since 1998 when investment was $ 22,764 mm Investment in the manufacturing industry, commerce, services and the financial sectors has decreased.
The infrastructure sector leads the ranking with investment announcements of $ 11,518 mm this year. The telecoms sector announced investments of $ 5,000 mm in 2001. Also related to infrastructure, the construction sector has announced investments of $ 2,392.6 mm and investment in oil, gas and poly-pipelines has increased because of the projects to join Buenos Aires with Montevideo, Uruguay, through a gas pipeline and Paraguay through an oil pipeline.

In this sector there are already committed investments of $ 1,142.8 mm Another sub-sector of infrastructure is electricity with investment announcements of $ 1,324 mm The only decrease of investment in infrastructure is registered by the transport sector dropping from $ 859 mm last year to $ 828 mm In the extracting industry investment will be $ 4,245.6 mm, of which $ 1,500 mm will be destined to mining, while oil and gas extraction concentrate investments of $ 2,700 mm

Source: Ambito Financiero/SABI via Newspage
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