By JUAN VILLARREAL MUSSETTO
The Argentine government opened economic bids this Thursday to advance the privatization of Agua y Saneamientos Argentinos (AySA), the company responsible for drinking water and sewage services in Buenos Aires City and various municipalities in the surrounding metropolitan area.
The highest proposal was submitted by a consortium comprising Rowing, Arcos, Transclor, and PHX, which offered US$340.2 million for 90% of the company's shares. The other bid, presented by a group led by Roggio, stood at US$285 million.
Who makes up the consortium?
The group that submitted the highest bid is led by PHX Aqua, a Netherlands-based investment fund that will hold a 55% stake in the consortium. The remaining participation is distributed among Rowing (20%), Brazilian company Arcos Saneamento e Participações (15%), and Transclor (10%).
Arcos will also play a central role as the technical operator. The company has experience managing water and sanitation services in Brazil, including operations in Rio de Janeiro.
Key figures associated with the new group include Walter Román, head of Rowing, and Mauricio Filiberti, owner of Transclor and a shareholder in Edenor.
Filiberti and Román on the verge of taking over AySA
What will happen to AySA's shares?
The process involves transferring 90% of AySA's shares to the private sector, while the remaining 10% will stay in the hands of workers through the Participatory Ownership Program.
The opening of economic bids does not yet mean the deal is fully closed. Following this stage, the corresponding administrative steps must be completed before final adjudication and the transfer of the company to the new operator.
An investment plan exceeding US$2 billion
One of the main points of the new scheme is the investment commitment that the future concessionaire must assume.
The contract establishes an action plan for the 2027-2031 period worth 2.89 trillion pesos, based on December 2025 values and excluding VAT. The program covers works, maintenance, improvements, and expenses related to service operations.
According to official information, the goal is to expand water and sewage coverage, renew infrastructure, and improve the system's performance.
Thus, the opening of economic bids marks a new step in the privatization of AySA, which could alter the control structure of one of the main public utility companies in the Buenos Aires Metropolitan Area.
