Investment in Argentina Booms
International and Argentine companies have
announced nearly $9 billion in investments in the country,
signaling that confidence is beginning to creep back, nearly two
years after the government defaulted on its debts, devalued the
currency and unilaterally rescinded contracts that forced dozens of
banks and companies into insolvency. Spanish-owned
, which has most of its reserves in
Argentina, announced it would invest $5.5 billion through
announced it will build a $1 billion gas
pipeline stretching 1,500 kilometers (930 miles) from Bolivia to
central Argentina. The Argentine government will support the
project with $250 million in loans.
and local partner
Lambert Financial Investments
said they will invest up to $1 billion in
Argentina in home building, waste management and security
companies. Crown is a Bermuda-based investment fund that
specializes in undervalued companies.
of Spain and its wireless unit say they
plan to invest $700 million to upgrade their fixed-line and
cellular networks in Argentina....
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