The Ministry of Industry, together with YPF and Banco Nación, has launched a series of credit lines from Neuquén for 35,000 million dollars to promote the industrialization of the oil and gas sector, with a focus on small and medium-sized suppliers and the development of impact projects abroad saving currency.
The presentation took place this Tuesday at the Oilfield Production Services plant, near the capital Neuquén, in the presence of the head of the Ministry of Industry, José Ignacio De Mendiguren; the president of the YPF, Pablo González; the CEO of YPF, Pablo Giuliano; the governor of Neuquén, Omar Gutiérrez, and the former Secretary of Energy, Darío Martínez, among other national and provincial officials.
On the one hand, a new tender was announced by the National Supplier Development Program (Prodepro) – made official last week with Resolution 76/2023 published in the Official Gazette – aimed at the oil and gas supply chains.
The program will award non-refundable grants (ANR) of up to $100 million, covering up to 70% of supplier capital projects.
In addition, the initiative, which will be open for registration through April 27, will support up to $150 million in the case of YPF supplier companies that have a customer/supplier partnership project.
On the other hand, an act of intent was also signed during the event to implement a new CreAr (Crédito Argentino) line that will grant credits of up to $150 million through Banco Nación (BNA) to YPF suppliers for the purchase of working capital, with a discounted rate from the Secretariat of Industry and Productive Development.
The package of measures also included a new line of strategic projects that provides loans of up to $1.65 billion, including through the BNA and at state-funded rates, for investments that promote export and import substitution by companies of larger dimensions.
Likewise, the commitment was ratified for the different areas of the State, together with YPF and INTI, to lighten the production processes of the oil company’s value chain to analyze and promote national integration.
On the other hand, De Mendiguren and González signed a memorandum of intent to examine the production processes of the YPF value chain through the National Institute of Industrial Technology (INTI) to analyze and promote national integration and obtain a diagnosis of the possibility of improvement in the same which will be analyzed in a joint work table.
Charles Arterburn is a seasoned business journalist for News Rebeat, where he provides comprehensive coverage of the latest trends and developments in the world of finance and economics.