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Economy & Business - July 2003

ARGENTINA: Government to reoffer concessions on postal service, airport

The government is planning to reoffer the concessions to run the postal service and the international airport. The statement came from Julio de Vido, the planning minister. He stressed that the legislature, not government, would decide how and when the concessions would be offered. 

The airport concession is currently in the hands of Aeropuertos Argentina 2000, whose driving force, Eduardo Eurnekian, is currently being sought for tax evasion. The postal concession is run by SOCMA, the master company of the Macri group. 

Both companies have failed to make the due payments to the government. In theory, both companies had 30 year concessions. The postal company was awarded to the Macri group in 1997. The company was supposed to pay the government US$51m a year. The contract to run the country's 33 airports was awarded in 1998. The fee was US$171m a year.

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