Super RIGI: data centers, AI and semiconductors

What changed

A text with first-round approval (Jun 24, 2026): a reinforced regime for 'new economic activities' — those not developed, produced or provided in the country (the scope is by NOVELTY of the activity, with objective regulatory criteria; there is no sector list in the articles — data centers, AI, semiconductors, lithium batteries, green hydrogen or reactors are the examples the ruling party cites). Minimum investment USD 1,000 M per project (20% committed in the first 2 years), income tax at 15%, dividends 3.5% from the fourth year, employer contributions 10%, tiered free availability of foreign exchange 20/40/100% over 3 years from the first export, and exemption from import/export duties. Added by the Chamber of Deputies (it was not in the original bill): a local-supplier development plan with a local-contracting commitment of at least 20% of the amount destined for suppliers, provided there is local supply available on market terms (art. 17 subs. o), plus a public registry of projects. verif · Jun 24, 2026 ↗

In force

Not in force: with first-round approval in the Chamber of Deputies (Jun 24, 2026), pending consideration and definitive enactment in the Senate. verif · Jun 24, 2026 ↗

Who it affects

World-scale investors with projects >USD 1,000 M in activities that do not exist in the country today (hyperscalers/AI, semiconductors, batteries, hydrogen, nuclear — per the debate examples). First declared candidate: Meitner Energy (Ansari Group, US + INVAP 40%) — ACR-300 modular nuclear reactor (SMR, ~300 MW) at the Atucha site, ~USD 1,200 M and ~2,000 direct jobs; an initiative filed on Jul 2, 2026 and announced by the Ministry of Economy, subject to ARN licensing and to the bill's enactment in the Senate. Flagship project at a larger scale: OpenAI's letter of intent (Stargate Argentina) for a 500 MW data center in Patagonia, ~USD 25,000 M (Oct-2025; intention, NOT FID). On the local side: supplier SMEs — the approved text requires committing at least 20% of spending to domestic suppliers when there is local supply on market terms. verif · Jun 19, 2026 ↗

The norm

First-chamber approval in the Chamber of Deputies on Jun 24, 2026 (130 in favor · 106 against · 7 abstentions); sent to the Senate for final passage. It complements and reinforces the RIGI (Ley 27.742). verif · Jun 24, 2026 ↗

Our reading

It opens a new RIGI strand — data centers, AI and semiconductors — that demands exactly what Patagonia has: abundant Vaca Muerta energy and a cold climate for cooling (R3 · stability → long-term investment). It already has first-round approval in the Chamber of Deputies (Jun-2026); the signal to follow now is the Senate — and capital is already lining up: the first candidate has a name, Meitner Energy's SMR reactor at Atucha (~USD 1,200 M, with INVAP as a 40% partner), filed within days of the vote; the flagship project at a larger scale (Stargate/OpenAI, USD 25,000 M) is for now a letter of intent. The approved text adds a key piece for the satellite thesis: every project must commit at least 20% of its spending to local suppliers (when there is supply on market terms) — a floor of guaranteed demand for whoever settles in the chain. thesis

Where it lands, province by province2

Neuquén Vaca Muerta can supply the cheap, abundant energy a data center needs 24/7: Neuquén Patagonia is a natural candidate for the large data-center operators (hyperscalers). New potential demand for electricity generation and satellite services, beyond export oil/gas. favorable stability → long-term investment thesis

Río Negro Río Negro Patagonia: a candidate for the Stargate data center (energy + cold climate for cooling). It would diversify its profile beyond LNG. favorable stability → long-term investment thesis

Super RIGI: data centers, AI and semiconductors

What changed and who it applies to

Our reading

Where it lands, province by province2

The other rules on this subject21

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