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[BUSINESS] · Argentina · 13 sources

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AySA privatization: Two consortia advance to technical evaluation stage

The Argentine Ministry of Economy has advanced the privatization of Agua y Saneamientos Argentinos (AySA) by opening technical offers. Out of 17 initial participants, two national consortia have moved to the technical evaluation stage: Rowing-Arcos-Transclor-PHX (led by Rowing S.A.) and Roggio ROAS S.A.U. and others.

The privatization involves the sale of 90% of the company's shares, with the remaining 10% held by employees through a participatory ownership program. The government estimates the sale could generate between US$450 million and US$500 million.

Under the proposed contract, the future operator is required to invest more than US$2 billion over the first five years. A mandatory 2027-2031 Action Plan includes investments totaling 2.89 trillion pesos (at December 2025 values). The plan sets specific coverage targets for 2031, aiming for 75.3% for drinking water and 63.9% for sewage services. By the end of the initial 30-year term, minimum requirements are set at 90% for water and 75% for sewage.

Additionally, the tariff structure for the first five-year cycle is designed to remain constant in real terms. The first tariff cycle is expected to generate approximately US$400 million in VAT and US$350 million in Gross Income payments.

Entities

AySA · Consorcio Roggio Roas S.A.U. · Consorcio Rowing · Luis Caputo · Ministerio de Economía · Ministry of Economy · Roggio Roas S.A.U. · Rowing S.A.

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