BUENOS AIRES, Sept 21 Argentina will invest 22.2
billion pesos ($1.47 billion) over the next three years to
modernize the country's airports to increase passenger capacity
and boost air cargo shipments, the country's transportation
minister said on Wednesday.
The plan comes as center-right President Mauricio Macri, who
took office in December, seeks to improve the country's
infrastructure in order to attract foreign investment. The
government had previously announced a $7 billion infrastructure
Most of the money will go toward modernization efforts to
boost capacity at 19 airports, with the aim of doubling the
number of passengers traveling on domestic flights.
Currently, 54,000 people pass through Argentina's airports
The plan aims to increase commercial capacity at airports in
remote regions to facilitate exports of local agricultural
products. Argentina's rail capacity lags far behind rival
agricultural powerhouses like Brazil and the United States,
increasing the cost and time it takes to ship products to ports.
Last month, billionaire Eduardo Eurnekian told a Reuters
summit he was eyeing a $1 billion listing in New York for the
network of domestic airports that his company, Corporacion
America, controls in the country.
($1 = 15.1310 Argentine pesos)
(Reporting by Luc Cohen; Editing by Sandra Maler)