The province of Santa Cruz reached an agreement with China to receive a multimillion-dollar investment at a time when Javier Milei has ignored this opportunity. The visit of Chinese investors last year to the state-owned company Yacimientos Carboníferos Río Turbio (YCRT) marked the beginning of this collaboration. The governor highlighted that these agreements represent a new era for the region.
In a context where Javier Milei advocates for the privatization of public companies, YCRT becomes a focus of attention for the government. Despite Governor Claudio Vidal's desire to keep the company in state hands, the national government granted a 60-day extension for the firm to become a Stock Company. It is rumored that there are already foreign investors interested in the company.
A detailed audit revealed the delicate financial situation of Yacimientos Carboníferos Río Turbio, adding non-compliances, debts, and irregular movements. This collaboration with China will bring around 200 million dollars in investments, especially beneficial for the fishing sector of the province.
"These investments will allow for the expansion of processing plants and the improvement of fishing ports, resulting in the creation of hundreds of genuine jobs for the citizens of Santa Cruz," said Governor Claudio Vidal. The investments will be provided by China Hong Dong and Argentina Hexarmonia Capital SA, who visited the province in a recent delegation.
Amid this search for investments, a report from the General Audit Office of the Nation (SIGEN) highlighted various problems in the operation of YCRT, including unjustified financial movements, debts with AFIP, and irregularities that have persisted for some time.
