approved

Fértil Pampa — urea and ammonia plant in Bahía Blanca

total investment in the act

2.693USD M

verif Sep 7, 2026 ↗

RIGI adhesion for the 'Fertilizantes' project of Fértil Pampa SAU (special-purpose vehicle of Pampa Energía): a granulated urea and ammonia plant at Puerto de Ingeniero White, Bahía Blanca. USD 2,693 M across two stages (2026-2027 and 2028-2029), with the minimum investment to be completed before Dec 1, 2029. 46% of the investment is an imported offshore component (no local supply due to its technical complexity); the onshore component is contracted entirely to local suppliers, meeting the regime's 20% minimum. The related company SACDE SA is allowed to count its participation as local under an exception in art. 49, having been declared 'the only local company capable of meeting the demand under the required conditions'. The Ministry of Economy also announced — though it is not in the act itself — more than 4,800 jobs during construction and projected exports of more than USD 800 million per year.

operator

Fértil Pampa SAU

approving act

Resolución 1468/2026

Summary

share among the 23 approved RIGI projectstotal USD 35,734 M

Fértil Pampa7.5%

the other 22USD 33,041 M

what stage it is atpre-construction verif Sep 7, 2026 ↗

015 declared gaps, with what would close themWhat we could not confirmsee

The projectwhat it is, the route, the owners, the works and the contractors

Who owns it

Fértil Pampa SAU (VPU, CUIT 30-71875855-2) — special-purpose vehicle of Pampa Energía verif Sep 7, 2026 ↗

The works, milestone by milestone

Pending

We have not built this project’s timeline. Dated milestones with their source close it.

Who already has a contract

SACDE SA

Related company whose participation in the project's local component is counted under the exception in art. 49 of Annex I to Decreto 749/2024, having been declared to the State as the only local company capable of meeting the demand under the required conditions.

Literal from the act: the applicant requests that SACDE SA's participation, a 'related company', 'be counted under the exception provided in the last paragraph of article 49 of Annex I to decree 749/2024 and its amendments', declaring that SACDE SA 'constitutes the only local company capable of meeting the demand under the required conditions'. Neither an amount nor a specific work front is published in the act.

verif Sep 7, 2026 ↗

How to supply itwhere to register, what they ask for and what they will buy

How to become a supplier

Pending

This project’s entry map has not been built: it closes by opening the provincial register and the operator’s single window.

What it will buy, and when

thesiswhat this project buys, and when opening and deregulation

The act itself states that the 46% offshore component 'has no local supply' due to its technical complexity: openness matters for what can't be made here, leaving the remaining 54% as the ground where the Argentine supplier competes.

thesiswhat this project buys, and when each phase buys something different

Two stages with their own budget: USD 1,105 M through the end of 2027 and USD 1,588 M through the end of 2029, with the minimum-investment deadline only on Dec 1, 2029 — the largest project in the dataset, ahead of a long construction timeline.

Pending

We have not built this project’s phase → demand chain: its schedule still has to be crossed with the province’s catalog of markets and trades.

Does your company fit into Fértil Pampa?

We cross what your company does against the projects we track and tell you which ones it fits into, through which door and who it competes against. Two pages, with the evidence behind them.

Analyze my company

What it leaves in Buenos Airesjobs, works, taxes, promises and the outlook

How many jobs it creates

In construction

more than 4,800 jobs during construction jobs declared by the Ministry of Economy for the construction stage, without breaking out direct/indirect prob Sep 7, 2026 ↗

Pending · 3 blocks

The works that stay behind — We have not surveyed this project’s permanent works. A published size with its source closes them.
What it already pays in taxes and royalties — We have not broken down this project’s local fiscal contribution: the primary source that sets each item still has to be opened, and an act of the State is not published on press backing.
Who promised what — We have not surveyed the public promises about this project. A dated, verifiable commitment with its source closes them.

What could stall itrisks and how to track them

Pending · 2 blocks

What could stall it — We have not documented this project’s risks. An identifiable vector with its source closes them.
How to tell whether it is advancing — We have not defined this project’s indicators: what observable fact marks its progress still has to be identified.

How we verified thisthe act, the gaps and the sources

The RIGI act, in detail

Administrative file number

EX-2026-39957712- -APN-SCEYM#MEC verif Sep 7, 2026 ↗

Accession date

August 3, 2026 verif Aug 3, 2026 ↗

Publication in the Boletín Oficial

September 7, 2026 verif Sep 7, 2026 ↗

The act’s articles, in detail

5 facts on the commitment

Local content set by the act

20 % minimum required by the regime, which the Local Supplier Development Plan declares it meets (it does not exceed it, unlike other projects in the portfolio) verif Sep 7, 2026 ↗

What that local content is calculated on

Approximately 46% of the total investment is an imported offshore component (no local supply due to technical and technological complexity); the onshore component — the remaining share — is contracted entirely to local suppliers. verif Sep 7, 2026 ↗

Deadline for the commitment

December 1, 2029 verif Sep 7, 2026 ↗

Total investment declared in the act

2693 USD million — total investment in computable assets (USD 2,693,000,000) verif Sep 7, 2026 ↗

Vehículo de Proyecto Único

Fértil Pampa SAU, CUIT 30-71875855-2. verif Sep 7, 2026 ↗

What we could not confirm

There are 5 in this project. Each says why it could not be confirmed and what it would take to close it.

H-01The exact corporate link between Fértil Pampa SAU and Pampa Energía is not stated in the resolution.+

The act only names the VPU (Fértil Pampa SAU) and does not mention Pampa Energía; the link is built from converging press coverage of the same project (location, amount, original announcement).

What would close itPampa Energía's Form 20-F or a 6-K (NYSE:PAM) declaring its equity stake in Fértil Pampa SAU, to the same standard already used for Rincón de Aranda.

H-02Why the First Stage of the investment plan starts on Jul 17, 2026, nearly three weeks BEFORE the adhesion date set by art. 2 (Aug 3, 2026).+

The two articles were read separately and were not reconciled against the act full text in a single continuous read.

What would close itRe-read the full act, downloading it as a PDF if needed, to confirm whether the notification date in art. 3 — the real anchor for art. 4 — differs from the adhesion date, as already happens with other projects in the portfolio (MEGA, Sidersa).

H-03Breakdown of jobs (direct vs. indirect) and the annual export figure (USD 800 M), from a harder source than a tweet.+

The resolution does not publish employment or export figures; the 4,800 jobs (construction, not broken down) and the USD 800 M/year in exports come from the Ministry of Economy's announcement, not from the act.

What would close itThe official RIGI portal (which sometimes publishes a different aggregate figure) or a statement from Pampa Energía / Fértil Pampa breaking down direct vs. indirect jobs.

H-04Whether Fértil Pampa falls under the Buenos Aires provincial strategic investment regime (Ley 15.510) and its 50% local-purchasing floor, well above this act's 20%.+

This project did not research it; it is the same open question left for Sidersa, also in Buenos Aires and above the USD 50 M threshold.

What would close itThe Official Gazette of Buenos Aires province or the Ministry of Production's site, searching for 'Fértil Pampa' or 'Pampa Energía'.

H-05What other companies, besides SACDE, take part in the onshore component.+

The act only names SACDE under the art. 49 exception; no supplier is identified for the rest of the 54% onshore share.

What would close itA statement from Pampa Energía/Fértil Pampa about awards, or its supplier registry if it publishes one.

How to read the seals → verif primary source · prob primary source pending · unconf a source said it · estim our own calculation · thesis our reading · the date belongs to the datum, at the precision its source allows

Ignacio Aredez· Chief analyst

Credentials and track record →

10+ years in data science for clients across Europe and the Americas
Certified in AI governance (ISO/IEC 42001)
Machine Learning (Google Cloud)
Registered expert with the European Commission

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