Siders, a steel mill, presented an initial investment plan of US$300 million on Tuesday to establish a cutting-edge plant in San Nicolás, Buenos Aires. The move aligns with other companies, such as TGS, igniting new projects due to the significant investment incentive scheme (RIGI) outlined in the Bases Law yet to be debated by Deputies.
Hernán Spoto, the company director along with CFO Marcelo Iribarne and Institutional Director Pablo Cattoni, revealed the investment during a meeting at the Treasury Palace with Juan Pazo, the Secretary of Planning and Management for Productive Development and the Bioeconomy. The investment plan promises to create 300 direct quality jobs and 3,500 indirect positions, particularly in scrap metal collection and construction sectors.
The RIGI, a large investment incentive program, was a critical factor that prompted Sidersa to move forward with their long-anticipated initiative. This scheme aims to foster investments of US$200 million by offering significant benefits like fiscal stability for 30 years and tax exemptions. By investing in the steel industry, Sidersa hopes to spark interest in related careers among the local youth and provide cutting-edge technological training opportunities.
With their plant in San Nicolás, Sidersa plays a key role in the steel and metallurgical market and serves as a major client of Ternium of the Techint group. The company with Argentine capital and 650 employees procures tubes, sheet metal, and profiles to manufacture products for clients in various sectors. Now
