This week, the Argentine government initiated the privatization of the state-owned company Argentine Railways, marking the 11th public venture to be opened to private capital in 2025. Since the inception of the Milei administration, a total of 19 companies have undergone privatization or have been made available for corporate ownership bids. The Argentine Railways operates as a public holding company, overseeing the majority of the national railway network since 2015. The removal of the “state-owned company” legal designation, a measure that facilitated their transition to private ownership, constituted a fundamental requirement of the Bases Law enacted in 2024.
In a statement released on Monday, Daniel Roque Vítolo noted that the objective of privatizations is to “place state-owned companies on an equal footing and make them competitive with the private sector.” Vítolo remarked that President Javier Milei aims to overhaul “the business structure that had taken root in the state,” a venture that the government official indicated was initially met with “skepticism. Today, with the objective achieved, skepticism has vanished, and hope has been revitalized,” he added.
The following 11 companies are slated for privatization in 2025:
- The Railway Infrastructure Administration
- The General Port Administration
- “Contenidos Públicos,” which owns several TV channels
- Educational platform Edu.Ar
- The Argentine Air Navigation Company
- Fabricaciones Militares, a military supply manufacturer
- The Railway Operator company,
- Argentina Radio y Televisión, which operates several radio stations and TV channels,
- The mint, whose plants the national administration had shut down last year
- News agency Telam, which the government shut down in 2024
Under the Milei administration, eight additional companies, owned by the state yet not classified as “state-owned,” were designated as “subject to privatization” according to the Bases Law:
- Enarsa, the country’s main energy company, whose assets the government is already selling
- Nucleoelétrica Argentina, which the administration put partly on sale earlier this year,
- Yacimientos Carboníferos de Río Turbio, which the government turned into a corporation, while maintaining 51% of its ownership
- Intercargo, the company responsible for operational services related to aircraft takeoff and landing. The government has already started the privatization process
- Water and sanitation company AySA. Privatization was announced in 2024
- Train company Trenes Argentinos, which was turned into a corporation
- Railroad company Belgrano Cargas
- Corredores Viales, which builds and maintains roads
In its August 2025 review of the economic program, the International Monetary Fund identified the “privatization of state-owned enterprises” as a strategy for the government to address the “current account deficit” and enhance reserve accumulation.