On Friday, November 22, 2024, Decree 1028/2024 (the “Decree”), issued by the National Executive Power (“PEN”), was published, which modifies issues relevant to the expansion of pre-existing projects that are not part of the Incentive Regime for Large Investments (“RIGI”).
The main change introduced by this decree is that any expansion of pre-existing projects not adhered to the RIGI must be done through a dedicated branch. This branch must comply with RIGI requirements and meet or exceed the minimum investment amount for the corresponding sector. The Decree also allows these dedicated branches to use infrastructure or assets of the original project holder without being in breach of the RIGI conditions. The rule is effective as of November 22, 2024.
These projects, upon being adhered to the RIGI, will be governed according to the provisions of Article 221 of Law 27,742.
This rule came into effect on November 22, 2024.
