Metrovías
Argentine rail operator associated with Grupo Roggio and best known for operating the Urquiza commuter railway concession and, historically, the Buenos Aires Underground.
Last updated August 25, 2026
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Overview
Metrovías S.A. is an Argentine privately held rail-transport company associated with Grupo Roggio. Its principal continuing railway activity is the operation of the Metropolitan passenger service on the Urquiza Line in Buenos Aires. The line is a standard-gauge commuter railway running between Federico Lacroze and General Lemos. Metrovías entered the passenger-rail market during Argentina's railway privatization process under President Carlos Menem, taking over the Urquiza Line concession on 1 January 1994. The concession had previously been administered by the state-owned Ferrocarriles Argentinos, which had operated the service within the General Urquiza Railway system after the nationalization of Argentina's railways in 1948. Metrovías' original operating scope was broader than its present railway profile. During the 1990s privatization and concession restructuring, the company also assumed management of the Buenos Aires Underground and the Buenos Aires PreMetro. The Underground became the most visible part of the company's public identity because it served the capital's dense urban core and carried large passenger volumes. In addition to its direct concessions, Metrovías participated from 2004 to 2013 in UGOFE, a consortium with Trenes de Buenos Aires and Ferrovías. UGOFE operated several commuter services after the Argentine government revoked concessions previously held by Metropolitano S.A., including the Belgrano Sur, Roca, and San Martín lines. The company's transport business has therefore combined urban rapid transit, commuter rail operations, concession management, and participation in multi-company operating consortia. Its role is that of an infrastructure and passenger-service operator rather than a rolling-stock manufacturer or consumer-facing product brand. The company's services involve the day-to-day running of railway systems, including passenger transport and the operational management associated with concessioned rail networks. A major change occurred in December 2021, when Emova Movilidad S.A. took over the concession to operate the Buenos Aires Underground for a 12-year period. Emova was formed by Metrovías and the Roggio Group and remains associated with Metrovías, but the change separated the Underground concession's operating identity from the historic Metrovías brand. As a result, Metrovías' continuing public-transport identity is more closely tied to the Urquiza Line, while its historical importance includes the long period during which it managed Buenos Aires' subway and PreMetro systems. The available reference material identifies Metrovías as a privately held Argentine company with approximately 90% of its shares held by Grupo Roggio. It does not provide a current executive roster, audited financial figures, or a detailed account of the company's current operating performance. Those fields are therefore left unreported here rather than inferred.
History
Metrovías emerged during Argentina's railway privatization program of the early 1990s. On 1 January 1994, it assumed the concession to operate the standard-gauge Urquiza Line in the Buenos Aires metropolitan area. The line, which runs from Federico Lacroze to General Lemos, had previously been operated by Ferrocarriles Argentinos as part of the General Urquiza Railway. That state railway system had its origins in the nationalization of Argentina's railways in 1948. The initial Metrovías consortium included Burlington Northern, Morrison-Knudsen, and two Argentine companies. Its responsibilities soon extended beyond the Urquiza Line. As part of the privatization and concession arrangements for Buenos Aires public transport, Metrovías also took over management of the Buenos Aires Underground and the Buenos Aires PreMetro. This made the company a major operator of both suburban railway and urban rapid-transit services in the capital. During the period in which Metrovías operated both the Urquiza Line and the Buenos Aires Underground, the company was associated with a substantial metropolitan passenger network. The reference material describes the combined system as having 108 stations, 72.9 kilometres of track, and 692 carriages, with annual passenger traffic of approximately 283.8 million when the Urquiza and Underground concessions were considered together. It also identifies a workforce of approximately 3,000 employees. These figures are historical and are not treated as current operating data. From 2004 through 2013, Metrovías was part of UGOFE, an operating consortium formed with Trenes de Buenos Aires and Ferrovías. UGOFE took over the operation of the Belgrano Sur, Roca, and San Martín commuter lines after the Argentine government revoked the concessions previously granted to Metropolitano S.A. Metrovías' involvement in UGOFE illustrated the company's role not only as a direct concession holder but also as a participant in collaborative arrangements used to maintain railway operations during periods of concession transition. The most significant recent change in the company's operating portfolio came in December 2021. Emova Movilidad S.A. took over the Buenos Aires Underground concession for a 12-year term. Emova was formed by Metrovías and the Roggio Group and remains associated with the same corporate group, but the Underground service thereafter operated under the Emova name rather than directly under the Metrovías brand. Metrovías consequently retained its historical association with the Underground while continuing to be identified principally with the Urquiza Line railway service. Metrovías is privately held, and approximately 90% of its shares are held by Grupo Roggio. The available sources do not identify a complete current management team, provide current financial statements, or establish a separate publicly traded listing. Its history is best understood as part of the development of concession-based passenger rail in metropolitan Buenos Aires, encompassing the transition from state railway operation to private and consortium-based management.
- 2021
Emova takes over the Underground concession
[1]Emova Movilidad S.A., formed by Metrovías and the Roggio Group, assumes the Buenos Aires Underground concession for 12 years in December.
- 2013
UGOFE participation ends
[1]Metrovías' participation in the consortium operating the Belgrano Sur, Roca, and San Martín lines ends.
- 2004
UGOFE operations begin
[1]Metrovías joins the UGOFE consortium, which takes over several commuter railway services after Metropolitano's concessions are revoked.
- 1994
Metrovías takes over the Urquiza Line concession
[1]Metrovías begins operating the standard-gauge commuter railway concession between Federico Lacroze and General Lemos on 1 January.
- 1994
Buenos Aires Underground and PreMetro management added
[1]Metrovías also assumes management responsibilities for the Buenos Aires Underground and PreMetro during the privatization period.
- 1948
Argentine railways are nationalized
[1]The state-owned Ferrocarriles Argentinos later operated the Urquiza Line within the General Urquiza Railway system after Argentina's railway nationalization.
Products and positioning
A privately held Argentine railway operator focused on concession-based urban and suburban passenger transport, with a corporate relationship to Grupo Roggio and a long operating history in Buenos Aires.
Commuter railway service · 1994
Urquiza Line
Metrovías' principal continuing railway activity is the operation of the Urquiza Line in the Buenos Aires metropolitan area. The standard-gauge line runs between Federico Lacroze and General Lemos and provides suburban passenger transport. The concession was transferred to Metrovías on 1 January 1994 as part of Argentina's railway privatization program. The available source does not provide current service-frequency, ridership, or rolling-stock details.
Urban rapid transit · 1994
Buenos Aires Underground
The Buenos Aires Underground was a major historical operating responsibility of Metrovías. The company managed the system from the 1990s until December 2021, when the concession moved to Emova Movilidad S.A., an operator formed by Metrovías and the Roggio Group. The Underground therefore remains central to Metrovías' history, although it is no longer operated directly under the Metrovías name according to the supplied reference.
Light rail and feeder transit · 1994
Buenos Aires PreMetro
Metrovías managed the Buenos Aires PreMetro alongside the Underground during its historical Buenos Aires transit concession. The PreMetro formed part of the company's broader urban-transport operating portfolio during the concession period. The supplied material does not provide route, fleet, ridership, or current concession details.
Consortium-based commuter rail operations · 2004
UGOFE commuter railway operations
Between 2004 and 2013, Metrovías participated in UGOFE with Trenes de Buenos Aires and Ferrovías. The consortium operated the Belgrano Sur, Roca, and San Martín commuter lines after the Argentine government revoked Metropolitano S.A.'s concessions. This was an operating arrangement rather than a standalone Metrovías-branded passenger product.
Brand decisions
2021
Transfer the Buenos Aires Underground concession to EmovaOtherBackground
Metrovías' historical Underground concession was replaced by a new operating arrangement associated with the Roggio Group.
Action taken
Emova Movilidad S.A., formed by Metrovías and the Roggio Group, took over the Buenos Aires Underground concession for a 12-year period in December 2021.
Aftermath
The Underground continued to be associated with the Metrovías-Roggio corporate structure but operated under the Emova name rather than directly under Metrovías.
2004
Participate in the UGOFE operating consortiumStrategyBackground
The Argentine government revoked Metropolitano S.A.'s concessions for the Belgrano Sur, Roca, and San Martín commuter lines.
Action taken
Metrovías joined Trenes de Buenos Aires and Ferrovías in UGOFE to operate the affected commuter services.
Aftermath
Metrovías remained involved in the operation of those lines through the consortium until its participation ended in 2013.
1994
Enter Argentina's concession-based passenger railway marketStrategyBackground
Argentina was restructuring and privatizing railway operations during the presidency of Carlos Menem. The Urquiza Line had previously been operated by the state-owned Ferrocarriles Argentinos.
Action taken
A consortium including Metrovías took over the government's concession for the Urquiza Line on 1 January 1994 and also assumed management of the Buenos Aires Underground and PreMetro.
Aftermath
Metrovías became a major operator of Buenos Aires metropolitan passenger rail and urban transit services.
Recent events
- 2021
Emova takes over Buenos Aires Underground concession[1]
Leadership change · Other
In December 2021, Emova Movilidad S.A., a company formed by Metrovías and the Roggio Group, took over the Buenos Aires Underground concession for 12 years.
- 2013
Metrovías leaves the UGOFE operating arrangement[1]
Other
Metrovías' participation in the UGOFE consortium ended after the consortium's period of operation of the affected commuter services.
- 2004
Metrovías participates in UGOFE commuter-rail consortium[1]
Other
Metrovías joined UGOFE with Trenes de Buenos Aires and Ferrovías to operate the Belgrano Sur, Roca, and San Martín commuter lines after the revocation of Metropolitano's concessions.
- 1994
Metrovías begins operating the Urquiza Line concession[1]
Other
Metrovías took over the Argentine government's concession for the standard-gauge Urquiza Line on 1 January 1994 as part of the country's railway privatization program.
- 1994
Metrovías assumes management of Buenos Aires Underground and PreMetro services[1]
Other
Alongside the Urquiza Line concession, Metrovías took responsibility for managing Buenos Aires' Underground and PreMetro systems during the 1990s concession restructuring.
Sources2 sources
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