They will exceed US$ 1.5 billion and are expected to generate more than 5,000 direct and indirect jobs over the next 20 years.
Aisa—a family group led by businessman Juan José Retamero, which has been active in Argentina for over 10 years—is investing in a series of strategic projects in the mining, energy, real estate, meat, and fishing sectors in the country, with an amount that will exceed US$ 1.5 billion over 20 years, which will undoubtedly drive the economic growth of the regions where these projects are developed.
"We are committed to collaborating with the sustainable and efficient development of Argentina and reinvesting the benefits of our activity into new projects linked to the sustainable and efficient development of regional economies. Therefore, we believe that our investments in strategic sectors are a clear example of economic sustainability and environmental sustainability,” says Ricardo Martínez, director in charge of the group's technical activities.
The company’s perhaps most well-known investments are those made in the Gualcamayo Mine and the Deep Carbonates Project, both located in the province of San Juan.
In September 2023, the Group—through its company Eris LLC—acquired the Gualcamayo Mine (located in Jáchal, San Juan), which had presented a closure plan. “However, after a financial restructuring, exploration of the mine was reactivated, turning a negative equity of US$ 200 million into a positive equity of US$ 170 million (audited by Price Waterhouse Coopers). This has allowed the preservation of 250 direct jobs and over 150 indirect ones,” explains Martínez.
Additionally, the group will present the technical feasibility studies for the Deep Carbonates Project in 2025. “This project will allow the continued extraction of gold and silver in the area, with an investment of approximately US$ 340 million that will generate 400 direct jobs and over 600 indirect ones over 17 years,” indicates the executive.
Contribution to the Argentine Energy Matrix
The energy sector is another area where Grupo Aisa plans to invest and develop large projects. “We are strongly involved with sustainability and understand that the Cuyo region is ideal for developing renewable energy, which is why construction has already begun on a Photovoltaic Energy Park in San Luis (in the Nogolí area), with an initial investment of US$ 35 million, reaching a final capacity of 51 MW, thus generating 150 direct jobs,” notes Martínez.
A similar but larger-scale project is being studied for the Jáchal area, at the entrance of the Gualcamayo Mine in San Juan. A Photovoltaic Energy Park is planned to begin construction in 2025. “In this case, the investment will be approximately US$ 600 million, creating 400 direct jobs and 750 indirect ones, with a final capacity of 800 MW,” he adds.
To understand its magnitude, 800 megawatts of energy would be sufficient to power more than a million homes in Argentina (with an average consumption of 600 kilowatt-hours per month). “This renewable energy project would be a significant contribution to Argentina's energy matrix, which causes many problems year after year not only for residential users but also for factories, companies, and businesses,” summarizes Martínez.
Real Estate Business and Social Development
On another note, the company has just acquired a terrain of land in San Juan to develop a real estate project that will create 200 direct jobs. “It involves a 6-hectare site of the former Cinzano, located in a key residential and commercial area of the San Juan capital. We plan to build between 160 and 200 high-quality homes, a hotel, a shopping center, and recreational areas with a gastronomic sector, a museum, and offices. Additionally, we are planning a business development area (‘San Juan Mining Hub’) with a total investment of over US$ 70 million,” says Martínez.
Mendoza, Awaiting
In Mendoza, the first place in Argentina where Grupo Aisa landed years ago with its investment plans, the company’s projects are currently on hold.
“Unfortunately, in the province, we are contingent on the resolution of legal conflicts with the executives of Fecovita, although we remain optimistic and continue to trust the judicial system,” warns Martínez.
The plans being studied by the Group for Mendoza include essential water management projects and sustainable energy initiatives.
“Mendoza is a beautiful, vibrant province, full of history and brimming with future potential. We want to be part of this future by investing in projects for the social development of small and medium producers, so that their winemaking continues to grow and stand out in the world,” he emphasizes.
More About Grupo Aisa
Grupo Aisa (www.aisagroup.ca) is a family-owned group of companies focused on permanent, balanced, and sustainable development, driven by a long-term vision that prioritizes responsible investment, continuous reinvestment of generated resources to ensure sustained growth, and a positive impact on the communities in which it operates. With a presence in Europe, Asia, the United States, Canada, and Argentina, the companies cover strategic sectors such as energy, mining, fishing, the meat industry, winemaking, and real estate.
What are Grupo Aisa's investment plans in Argentina and Mendoza?
