Argentina Expands RIGI Investment Incentives to Include Railway Infrastructure

The Argentine government has modified the regulations of the Regime of Incentive for Large Investments (RIGI) to clarify which railway infrastructure projects qualify for the program. According to Decree 748/2026, the definition of construction now includes not only new works but also the renovation, substitution, transformation, or development of existing infrastructure and accessory elements necessary for railway transport and logistics. Eligible projects include the construction of new tracks, the duplication and renovation of existing lines, the rehabilitation of non operative branches, and the integral renovation of bridges and culverts. The measure also covers signaling systems, telecommunications, energy, electrification, and cargo logistics infrastructure such as dry ports and logistics nodes. The decree explicitly excludes tasks limited to the conservation or maintenance of existing infrastructure. To qualify as a project expansion, investments must produce a verifiable and quantifiable increase in transport capacity based on objective technical parameters. The government justified the move by stating that much of the national railway network has suffered deterioration and wear over several decades. While one center right source focused on the technical specifications of the decree, another center right source framed the timing of the announcement as a precursor to the upcoming privatization of Belgrano Cargas. That report noted that several entities, including Grupo Mexico Transportes and a consortium of grain companies, have shown interest in the Belgrano Cargas tender, with some seeking the legal security provided by the RIGI for their investments.