Participation in the privatization of Trenes Argentinos Cargas
In November 2025, Grupo México Transportes expressed interest in participating in the bidding process for the reprivatization and concession of the freight lines of the Belgrano, San Martín, and Urquiza railways, currently operated by the state-owned holding company Trenes Argentinos Cargas, which is in the process of liquidation amid the wave of privatization being carried out by the government of Argentine President Javier Milei.[10]
In December 2025, GMXT CEO Bernardo Ayala arrived in Argentina to hold meetings with government officials involved in the privatization process of the state-owned freight holding company, as well as with business leaders who currently transport their goods via the three lines, presenting the Group’s plans for the three lines. Ayala promised that the Group would invest more than $3 billions if it wins the concession.[11]
Although the privatization, sale, and liquidation process was initially intended to be carried out in phases—with the shops, rolling stock, and tracks being awarded as separate business units, Grupo México requested that the bidding documents be amended, seeking a comprehensive (vertical) for the complete operation of the three lines for 50 years, along with access to the tax, legal, and fiscal benefits offered by the Incentive Regime for Large Investments (RIGI), given the volume of money to be invested in the concessioned lines, along with the fact that the Group plans to bring new locomotives and railcars from Mexico.[11]
Grupo México subsequently raised the possibility of taking over the rail networks currently operated under concession by Ferroexpreso Pampeano, a subsidiary of the Techint steel group, and Ferrosur Roca, a subsidiary of the Loma Negra–Pampa Energía construction holding company, whose concessions expire in April and September 2026, given the business diversification that this would entail (access to the Vaca Muerta oil and gas Basin in the case of the network operated and concessioned to Ferrosur, and the operation of the grains rail network in the province of La Pampa, the southern parts of the provinces of Santa Fe and Córdoba, and the western, central, and southern parts of the province of Buenos Aires—currently operated by Ferro Expreso Pampeano—along with access to the hinterland of the Ingeniero White Port in Bahía Blanca, the main port on Argentina’s coast, also dominated by Ferro Expreso).[12]
