Argentina's Ministry of Economy has approved the adherence of Terminal Timbúes S.A. to the Regime of Incentive for Large Investments (RIGI), authorizing the construction and operation of a multipurpose terminal port in the district of Timbúes, Santa Fe province. The official resolution, published in the Official Bulletin and accessed by the Noticias Argentinas agency, highlights that the "Timbúes Multipurpose Terminal Project" will require a total investment of USD 276.9 million in assets, exceeding the minimum amount stipulated in the current regulations. Terminal Timbúes has waived the benefit of free availability of foreign exchange from exports. The project has already received the express approval of the National Ports and Navigation Agency, the National Commission for the Defense of Competition (CNDC), and the Central Bank of the Argentine Republic (BCRA). These agencies raised no objections and emphasized that the new terminal will expand the port services offering, could reduce logistics costs, and foster greater competition in the region. The measure instructs the National Ports Agency to monitor compliance with regulations and grants Terminal Timbúes S.A. all the benefits and obligations provided for under the regime for large investments. In the first two years, the company must accredit investments of at least 40% of the total, with a final compliance deadline of April 2027. Terminal Timbúes is a new multipurpose port terminal located in Timbúes, Santa Fe, on the Paraguay-Paraná Waterway, designed for logistics in Argentina. Terminal Timbúes is controlled by Terminales y Servicios S.A., whose owner is Juan Manuel Ondarçu and his family, with no documented multinational participation. The development, over 186 hectares on the right bank of the Coronda River, foresees the creation of three logistics-port units to optimize loading, unloading, storage, and dispatch operations, creating a key node for fluvial logistics on the Paraguay-Paraná Waterway. The Ministry of the Nation's Economy, as learned by the Noticias Argentinas agency, also noted that 87% of investments in goods and services fall on local suppliers, above the 20% minimum required, and that the fiscal, customs, and exchange incentives provided for in Law 27.742 will be guaranteed.
