Grupo México withdraws from Belgrano Cargas privatization bid

Grupo México has officially withdrawn from the bidding process to privatize Argentina's Belgrano Cargas, San Martín Cargas, and Urquiza Cargas railway lines. The company, which had previously promised investments of approximately US$3 billion, cited disagreements with the tender terms established by the Ministry of Economy.

A primary point of contention was the ‘open access’ system, which requires the concessionaire to allow other operators to use the tracks in exchange for a toll. Grupo México had expressed a preference for a model that integrated both infrastructure and operations rather than dividing the tender into nine separate sections.

The 50-year concession remains open to other bidders. A consortium of major grain exporters—including ACA, Aceitera General Deheza, Bunge, Cargill, and Louis Dreyfus—is currently evaluating the documentation to decide on a proposal. Additionally, the Roggio Group has been mentioned as a potential competitor. The first opening of bids is scheduled for November 11.