Argent|na Infrastructure keport 1 2012

8Ml vlew ArgenLlna's lnfrasLrucLure secLor remalns dependenL Lo some exLenL on a uS$10bn
credlL agreemenL from Chlna 1he laLesL quarLer has seen Lhe launch of a Lhlrd nuclear power
planL a sLep ln Lhe rlghL dlrecLlon Lo dlverslfy Lhe counLry's power sources lndec reporLed
LhaL houslng consLrucLlon acLlvlLy rose by 73 yearonyear (yoy) ln AugusL 2011 growlng
desplLe a small 18 yoy decllne ln Lhe overall consLrucLlon acLlvlLy durlng Lhe same monLh
1he secLor conLlnues Lo beneflL from robusL economlc acLlvlLy and should see average yearly
growLh of around 3 ln real Lerms Lhrough Lo 2013
key deve|opments |n the |ast quarter |nc|uded
ArgenLlna has lnauguraLed lLs Lhlrd nuclear power planL accordlng Lo ?ahoo 1he ALucha ll
planL was opened by ArgenLlne resldenL ChrlsLlne klrchner who sald Lhe planL was a sLep
Lowards dlverslfylng Lhe counLrys power producLlon 1he 700MW planL ls expecLed Lo be fully
operaLlonal by C312 ralslng Lhe proporLlon of ArgenLlnas power producLlon from nuclear Lo
10
ArgenLlnas forelgn mlnlsLer PecLor 1lmerman announced Lhe compleLlon of rall upgrade
negoLlaLlons wlLh Chlnese englneerlng company Chlna Machlnery and LqulpmenL reporLs Lhe
8allway CazeLLe 1he company wlll underLake a uS$23bn upgrade of Lhe 8elgrano rall neLwork
1he conLracL was expecLed Lo be slgned ln CcLober 2011
1he ArgenLlne governmenL has engaged Lhe servlces of Canadlan energy Lechnology
englneerlng flrm Candu Lnergy lnc Lo work on a pro[ecL Lo exLend Lhe llfespan of Lhe Lmbalse
nuclear faclllLy accordlng Lo ?ahoo! news Candu ls a subsldlary of Canada based englneerlng
company SnCLavalln Work on Lhe uS$137bn pro[ecL wlll see Lhe planLs operaLlons
suspended for around 20 monLhs beglnnlng ln november 2013
ArgenLlne resldenL CrlsLlna lernndez has recelved a slgnlflcanL boosL Lo her reelecLlon bld
for Lhe 23 CcLober presldenLlal elecLlons Larly resulLs (and exlL polls) from Lhe naLlons flrsL
unlfled prlmary elecLlons suggesL Lhe presldenL gaLhered over 43 of Lhe voLe whlch lf
repeaLed ln Len weeks Llme would allow her Lo wln ouLrlghL ln Lhe flrsL round of Lhe presldenLlal
elecLlon Whlle lL has longbeen our core vlew LhaL lernndez would wln Lhe 2011 presldency
her bld recelved lLs flrsL LesL ln recenL weeks as Lhe resulLs of provlnclal elecLlons LesLed Lhe
depLh of her supporL base Lven Lhough Lhe presldenL losL Lhe provlnces of SanLa le and
Crdoba as well as her mayoral candldaLe for 8uenos Alres belng beaLen by lncumbenL mayor
Maurlclo Macrl (an lncreaslngly llkely candldaLe for Lhe 2013 presldenLlal elecLlon) ln our vlew
Lhe naLlonal voLe casLed ln Lhe prlmarles remalns Lhe besL lndlcaLlon of Lhe elecLoraLes CcLober
lnLenLlons

1he ArgenLlne economy remalns on course for anoLher year of sLrong economlc growLh and we
are revlslng upwards our 2011 growLh forecasL Lo 70 from 60 prevlously sllghLly lower
Lhan Lhe governmenL expecLaLlons of 73 Lo 80 WlLh Lhe naLlonal sLaLlsLlcs agency lnuLC
reporLlng C111 growLh of 99 yearonyear (yoy) we belleve Lhe maln drlvers of growLh
namely prlvaLe and publlc consumpLlon are seL Lo remaln ln place aL leasL unLll Lhe CcLober
2011 presldenLlal elecLlon Clven LhaL lernndez has recenLly declared her candldacy for Lhe
upcomlng elecLlon and recenL polls glve her a comforLable margln we expecL her Lo keep her
fooL on Lhe flscal acceleraLor as she furLher seeks Lo expand her supporL base 1hls ln Lurn
should conLlnue Lo supporL realLerm expanslon over comlng quarLers buL we belleve LhaL
ulLlmaLely Lhls governmenLled growLh ls unsusLalnable and expecL real Cu growLh Lo cool Lo
41 ln 2012

@ab|e Cf Content and more hLLp//wwwmarkeLreporLsonllnecom/143326argenLlna
lnfrasLhLml

ke|eated keport
Iran Infrastructure keport 4 2011
@ha||and Infrastructure keport 4 2011
Austra||a Infrastructure keport 4 2010
Iran Infrastructure keport 4 2010


About Us
MarkeL 8eporLs Cnllne ls an onllne llbrary of 30000+ reporLs lndepLh markeL research sLudles
of over 3000 mlcro markeLs and 23 lndusLrles

Contact
rlyank 1lwarl
sales[markeLreporLsonllnecom
+ 1 888 391 3441