The national government will implement from Wednesday the plan to encourage the production of natural gas known as Plan Gas.Ar. The production and investment commitments' offers will open on Wednesday. The new scheme will make $5 billion in production investments viable for all the producing basins.
In October, metallurgical production improved compared to the same month last year. The year-on-year growth, according to data from the Association of Metallurgical Industries of the Argentine Republic (ADIMRA), was 1.2%. The sector's recovery is due to an expectation of devaluation. Faced with the impossibility of taking refuge in dollars, many are turning to durable goods. The manufacture of this type of product then pushes the metallurgical chain.
Arcor implemented a severe cost adjustment plan, which allowed it to exhibit a profit of 4,001 million pesos ($49.39 mn) in the first nine months of this year, according to the updated balance sheet as of September 30. It cut expenses, reduced stocks, closed factories and lowered its debt, among other measures. The company managed to reverse the losses of 3.547 million pesos ($43.79 mn) that it had suffered in the same period of 2019.
Explora, a public-private initiative innovates to transform sewage waste into oil molecules that exported to Europe. They use it as raw material for second-generation biofuels. They developed the technology over eight years, with the idea of not relying solely on soy for biodiesel production. They have already invested $5 million in the sewage sludge de-aeration stage. Also, an initial investment of $30 million made for the biodiesel production plant in 2006. A module is building now for the recovery of fatty matter from the sewage sludge stream. The investment will be between $5 and $20 million.
According to a report by the Rosario Stock Exchange (BCR), the grain production chain would invest $1.51 billion in the current agricultural campaign to reach a diesel consumption of two billion litres. Concerning the previous cycle, the investment fall by 25%, and consumption decreased by 6%, due to lower sowing and harvest.