Argentina, US launch ‘Andes-Atlantic Corridor’ to boost infrastructure investment

Argentina and the United States have launched the "Andes-Atlantic Corridor," a joint initiative aimed at modernising infrastructure linking the country’s mineral-rich northwest and Vaca Muerta energy basin with Atlantic ports and Western markets.

The initiative was launched in New York by US Deputy Secretary of State Christopher Landau and Argentine Foreign Minister Pablo Quirno on the margins of the United Nations General Assembly.

According to a joint statement issued by the two governments, the corridor will facilitate public and private investment in transportation, energy and digital infrastructure “for a generation,” with the United States seeking to become a “fundamental partner” in infrastructure and investment in Argentina.

The plan covers railways, waterways, ports, pipelines, electricity generation and transmission, as well as digital infrastructure, with the stated aim of increasing exports of minerals, oil and gas and reducing transport and energy bottlenecks.

The US government said the corridor would help strengthen supply chains for critical minerals and energy, including lithium, copper, oil and gas, while expanding opportunities for US companies. It described the initiative as the first Partnership for Global Infrastructure and Investment (PGII) corridor in the Western Hemisphere.

A central element is the “US-Argentina Build the Future Framework,” signed by Argentina and the US Export-Import Bank (EXIM), which provides for financing of up to US$7 billion by 2027 for projects aimed at expanding infrastructure and productive capacity.

The figure does not represent a single loan or a US$7-billion fund available immediately, but is a platform through which US government agencies and private investors can support qualifying projects.

On transport, the two governments will identify priority projects to rehabilitate and expand railways, waterways and ports, with US companies able to participate as bidders or subcontractors.

In mining, the corridor will identify projects under the US-Argentina Critical Minerals Framework, with the stated goal of supporting critical-mineral extraction and processing while diversifying global supply chains.

The digital component will support what the governments describe as “trusted technology”, alongside cooperation on platform security and customs-screening equipment.

The US fact sheet identifies potential projects involving submarine cables, fibre-optic networks, satellite connectivity, AI data centres and other telecommunications infrastructure. 

Argentina, meanwhile, has committed to continuing to strengthen its legal and regulatory framework and investment protections, including “transparent, predictable, and effective” rules governing infrastructure concessions and greater participation by US companies and financiers.

– TIMES