The government signed this Friday an agreement between the state-owned shipyard Tandanor and the American company Red Chamber, which will invest a total of 45 million dollars for the construction of two new fishing boats.
MSU Energy, an Argentine company, dedicated to electricity generation, completed the expansion and conversion to combined cycle of the Barker Thermal Power Plant, located in the province of Buenos Aires. MSU Energy is one of the most efficient thermal generators in the electricity system, with 100% of its capacity operating under a combined cycle. It owns and operates three thermal plants, two located in the province of Buenos Aires and one in Córdoba, with a total installed capacity of 750MW. The expansion project of the three plants required 30 months and an investment of 490 million dollars.
Oracle in Argentina will inaugurate a "Point of Presence" (infrastructure designed explicitly by Oracle to offer more excellent connectivity, bringing the cloud much closer to customers) in Buenos Aires before the end of this year. The company recorded a 50% growth in cloud sales in 2019. This expansion will represent the hiring of more than 2,000 cloud programmers and developers.
Retail sales in October fell by 14.9% year-on-year, both online and in physical stores. The fall determined by financial uncertainty that retracted consumption as a precautionary measure. So far this year, the drop amounts to 26.2% annually.
Metallurgical production registered a 0.5% year-on-year increase in September, thus cutting a 28-month consecutive contraction streak. The sector's production is currently 52% above the floor reached in April. Agricultural machinery grew 24.5% and Bodywork and trailers 9.5%.
The three-point drop in withholding taxes that was in effect until the last working day of October was not enough to make agribusiness sales rebound from September. Cereals liquidated in October just over $1.7 billion, a drop of about $40 million from the previous month.