The Government announced today its decision to move forward with the privatization of nearly 6,000 kilometers of highways and routes across the country through the participation of private capital in the company Corredores Viales. According to the Government, this measure is taken because 45% of the entire stretch operated by Corredores Viales is in critical condition, with construction contracts halted and a 45% tariff delay compared to the technical rate.
Corredores Viales is the public company responsible for managing sectors of important routes such as 3, 5, 7, 8, and 9, as well as the Riccheri and Ezeiza-Cañuelas highways. The proposed new model implies that those interested in participating will keep the toll collection in exchange for carrying out necessary infrastructure works.
Manuel Adorni, presidential spokesperson, pointed out that this change aims to promote the development of infrastructure works through collaboration with the private sector, which will be responsible for executing the works at its own cost and risk, obtaining the right to charge tolls to users in return. Adorni stated: "The era of contractor patriotism, where tolls went up and the roads fell apart, is over."
The Agency for the Transformation of Public Enterprises, under the Ministry of Economy, will be the entity responsible for carrying out the necessary actions to complete this privatization. Among the proposed measures are the mutual agreement termination of existing concession contracts for 10 sections assigned to Corredores Viales, the execution of selection procedures for new public works concession contracts, and the dissolution of Corredores Viales once the contracts are awarded.
The Government assures that the new approach will allow the private sector to have better mechanisms for subcontracting works, without the restrictions imposed by public works law. According to Adorni's statements, in 2023 the company recorded a negative economic result, accumulating a debt with suppliers of 142 billion pesos and accumulated losses of 268 billion pesos, which has involved a contribution of 301 billion pesos from Argentines.
