RIGI: Pampa Energía to invest USD 2.4 billion in a mega-fertilizer plant

In a context of economic reconfiguration and openness to large investments, Pampa Energía, the company led by Marcelo Mindlin, submitted its application to enter the Incentive Regime for Large Investments (RIGI) with an ambitious industrial project that promises to transform the Argentine energy and agro-industrial map . This is “Fértil Pampa”, an initiative that will demand USD 2.4 billion for fertilizer production at the Bahía Blanca Industrial Center, with the objective of converting Vaca Muerta gas into 2.1 million tons of urea per year starting in 2030. The project aims directly to replace imports, strengthen domestic agriculture and supply growing regional demand, as it became known

.

The magnitude of the investment includes potential funding from international organizations such as the Inter-American Development Bank (IDB) and negotiations with the International Finance Corporation (IFC). According to a report from the latter, the complex will take advantage of its strategic location: proximity to gas pipelines, high voltage lines, water infrastructure and a deepwater port that will facilitate both export and

internal distribution.

The economic impact will be significant: it is estimated that the plant will generate USD 890 million annually in foreign exchange, with 60% of production destined for exports, mainly to Brazil, which has a strong urea deficit. Currently, Argentina is heavily dependent on imports, with Profertil as the only local producer, recently controlled mostly by Adecoagro and 10% by the Association of Argentine Cooperatives

(ACA).

In terms of employment, Fértil Pampa S.A.U., wholly owned by Pampa Energía, projects the creation of 3,500 jobs during construction and 300 permanent jobs during the operational phase. The company thus seeks to industrialize resources, generate foreign exchange and develop local suppliers, although it warns that success will depend on macroeconomic stability and the competitiveness of energy prices

.

Energy development is a central pillar of the project. In 2025, Pampa Energía achieved a record production of 17.6 million cubic meters of gas per day and plans to increase it by an additional 10 million over the next three years, allowing it to directly supply the plant using the surplus from the Neuquén basin

.

The planned infrastructure includes the installation of an ammonia and carbon dioxide plant, essential inputs for urea. The gas will arrive through an exclusive gas pipeline, electricity will be supplied by the National Interconnected System (SADI) and desalinated seawater will be used in production processes

.

The announcement comes in a volatile international context. In recent weeks, the price of urea registered increases of between 40% and 57%, with FOB values climbing from USD 685 to USD 755 per ton, driven by the conflict in the Middle East. In addition, 35% of the urea imported by Argentina transits the Strait of Hormuz, affected by blockades and production cuts, which have a direct impact

on agricultural costs.

Since urea is one of the most used fertilizers in the country, the new plant will reduce external dependence and shield the rural economy from international shocks, consolidating a more autonomous and competitive scheme.

In parallel, Pampa Energía's strategy within RIGI is not limited to this project.

As announced by Economy Minister Luis Caputo in March, the company expects another investment of USD 4.5 billion in the Rincón de Aranda field, in Neuquén, aimed at oil development, construction of treatment plants, oil and gas pipelines, with the drilling of “more than 100 additional wells”.

In addition, in July, the company had already submitted a first request to join the regime for USD 426 million, focused on infrastructure works for the block, including treatment plants, transportation systems and connections to strategic projects such as the Perito Moreno gas pipeline and the Vaca Muerta Sur oil pipeline.