Eduardo Eurnekian

Miércoles, septiembre 24th, 2014

Argentine Billionaire Eurnekian Sees Market Return Near Election

EE Bloomberg

By Katia Porzecanski and Erik Schatzker

Billionaire Eduardo Eurnekian said he’s waiting for Argentine assets to regain investor favor in the run-up to 2015 elections before taking several units of his holding company public.

Eurnekian’s Corporacion America, which controls interests in airports, energy, construction, nanotechnology and wines, is in talks with banks to plan a share sale once values recover, he said. The record $25 billion initial public offering from China’sAlibaba Group Holding Ltd. (BABA) last week isn’t enough to convince the businessman that now is the right time.

“Argentina is different,” Eurnekian, 81, said yesterday in a television interview at Bloomberg’s New York headquarters. “The country has enormous resources to be delivered, explored and a lot of opportunities, and today values are very low.”

Corporacion America is paving the way to sell shares in global markets by opening a representative office in New York, he said. Argentine companies are hamstrung because valuations are too low for IPOs while interest rates are too high to sell debt after the nation defaulted for the second time in 13 years two months ago, he said.

President Cristina Fernandez de Kirchner has 15 months left in office after she and her late husband and predecessor Nestor Kirchner ran the country since 2003. Argentina’s legal dispute with investors from its 2001 default, which is preventing the nation from making payments on its overseas bonds, is deepening a recession and spurring speculation that the debt crisis will have to be resolved by the next administration.

Presidential Candidates

The three leading candidates to replace Fernandez are in a statistical tie, according to the latest poll from Management & Fit. Buenos Aires Province Governor Daniel Scioli, Buenos Aires City Mayor Mauricio Macri and lawmaker Sergio Massa are all prepared to lead the country, Eurnekian said.

“There isn’t much difference between the candidates,” he said. “They play with the rules of democracy.”

Presidential elections will be held Oct. 25, 2015 and the new government would take office in December of next year.

A group of investors in Argentina’s defaulted bonds from 2001, led by Elliott Management Corp., won an order for full repayment whenever the nation makes interest payments on securities issued in 2005 and 2010 debt restructurings. Fernandez has refused to comply with the ruling, saying that doing so would trigger new claims of $120 billion from other bondholders.

Soros Talks

Argentine bonds have plunged 12 percent since the nation was blocked from making a $539 million interest payment on July 30, pushing yields to 9.6 percent on average.

Eurnekian is interested in helping resolve the dispute and has held talks with banks and investors to find a private solution. Still, he’s not in a position to lead a resolution, he said.

“I am a positive instrument to do something,” he said. “There are many businesspeople interested in doing something, but somebody — and not me — has to lead them.”

Billionaire George Soros, who also met with Fernandez in New York on Sept. 22, may be well positioned to help broker a deal, Eurnekian said.

Soros discussed a “range of topics” with Fernandez including the prospects for the economy and energy sector, his spokesman said in an e-mail. Soros more than doubled his stake in state-run Argentine energy producer YPF SA (YPF) in the second quarter to become the fourth largest private shareholder. He’s also the biggest shareholder of South American agricultural companyAdecoagro SA (AGRO), according to data compiled by Bloomberg.

“He has the financial resources, he has the knowledge,” Eurnekian said. “If it is in his hand to do something, I think he will.”

Eurnekian, whose Armenian immigrant parents owned a textile business, introduced cable television to Argentina through Cablevision SA and founded networks including America TV. Today, Corporacion America is the world’s largest private airport operator by number of licenses, with more than 50, and about $2 billion in annual sales.

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Jueves, septiembre 11th, 2014

Mr Eurnekian partners up with a Russian company to promote nuclear energy projects


Corporación América and Russian state-owned company Rosatom Overseas have signed an agreement which sets the framework of a strategic alliance for the construction of a new nuclear plant, a Radiation Technology station and a Nuclear Medicine station in Argentina.

The Argentine holding company Corporación América and the Russian firm Rosatom Overseas, international division of the Russian state-owned company Rosatom, have signed a Memorandum of Understanding which sets the framework of the strategic alliance between both parties for future nuclear power projects for civil use in Argentina.

“The document was sealed after President Vladimir Putin’s visit to Buenos Aires and establishes the cooperation between Corporación América and Rosatom Overseas for potential nuclear energy projects in Argentina”, announced the Argentine company in a press release spread by DyN.

In addition, the company stated that, “the Memorandum considers the construction of a new nuclear plant as well as a Radiation Technology station and a Nuclear Medicine station. Likewise, it includes the promotion of Floating Power Stations in Argentina and in other countries”.

Corporación América is an Argentine holding company, with presence in Uruguay, Peru, Ecuador, Brazil, Chile, Italy, Morocco and Armenia.

Diversified into different business units, the conglomerate run by Mr Eduardo Eurnekian is a leading nanotechnology company in Argentina and Brazil, and it has investments in conventional and wind energy, in winemaking and agricultural and livestock developments, in real estate and public works.

The holding company also heads the international consortium that is planning the Bioceánico Aconcagua corridor, which comprises a 52-km railway tunnel that will run through the Andes, and will connect the ports of Chile with the productive region of Argentina and Brazil.

Also, Corporación América is the world’s largest airport operator, with a total of 53 airports.



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Martes, julio 15th, 2014

Eduardo Eurnekian recognized by the U.S. Congress



Eduardo Eurnekian and Ted Cruz

Mr. Eduardo Eurnekian was distinguished for his role of president of the Raoul Wallenberg Foundation -an NGO created in Argentina, in a ceremony held on 9 July in the U.S. Congress. Eurnekian received as an award the art piece “Guardian of the Holocaust Saviors” from Ted Cruz, a Republican member of the U.S. House of Representatives.

This recognition, the first ever given to an Argentine person, distinguishes his outstanding contribution to promote Raoul Wallengberg’s legacy, and to facilitate the bestowal of the U.S. Congressional Gold Medal on Mr. Wallenberg, Second World War hero. The Wallenberg Foundation was the driving force behind the initiative to present the prestigious award to the Swedish diplomat.

“We hope this recognition will help to solve, once and for all, the mystery surrounding Wallenberg’s destiny, arrested and disappeared by the Soviets in 1945, after he had saved the life of tens of thousands of those persecuted by the Nazi regime”, said Eurnekian to the press upon leaving the Capitol.

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Miércoles, junio 18th, 2014

Eurnekian opens two airports in Brazil in record time

Before the World Cup, Mr. Eurnekian, together with his Brazilian partner, officially opened  the air terminals of Brasilia and Natal, which had been scheduled to be completed for the end of this year; now he will promote a wind farm and the Bioceánico Corridor.


By Alberto Armendariz

São Paulo.- To match the World Cup underway in Brazil, businessman Eduardo Eurnekian has already scored two goals for Argentina there. With the official opening , in record time, of the airports of Brasilia and Natal, whose bids he had been awarded through the Inframérica consortium, -comprised of Corporación América and Brazilian company Engevix- Eurnekian promotes a better integration between Argentina and Brazil, not only in the airport industry , but also in the sectors of technology, energy and logistics.

“We Latin Americans are always talking about integration, but we are not integrated. My personal and business projects are based on integration. I don’t devise projects thinking about Argentina or Brazil; I devise projects, with our own developed technology, to take them abroad. In today’s world, if you lack critical mass, you just disappear. And the critical mass has to be achieved with our neighbors. This is why I give particular importance to the mutual infrastructure works”, highlights the 81-year-old businessman, in an interview with Clarín and LA NACIÓN, on Monday 9 June, after the opening of the new Natal airport.

This was the first terminal to be privatized by Dilma Rousseff’s administration back in 2011. The plan was to build a new airport that would replace the previous one and serve as a trampoline for the tourist development of the state of Rio Grande do Norte. Even though the contract stipulated that the airport had to be finished by the end of this year, the winning consortium set it as an objective to open it before the World Cup. And they succeeded in it, regardless of the fact that the government did not comply with several of its duties, such as the construction of an access road, which was finally built by Inframérica itself.

“We knew, right from the beginning, that the administrative time frames for construction works contracting were somehow not going well, but we didn’t let our performance be delineated by the delays of any John Doe out there. With our partner we decided to generate confidence, and for that reason we had to meet the schedule established. Although we knew the government was not going to comply with the construction of the connection road, we did our part”, stated Mr. Eurnekian, whose company, Corporación América, operates 53 airports around the world.

With USD 300 million invested in a cutting-edge air terminal equipped with 42 check-in desks, six boarding air bridges and a 210,000 m2 operations yard, the airport’s capacity was increased to eight million passengers a year. And the result has been praised all around Brazil these last days. The same had happened in mid-April, when the renewed South terminal of Brasilia airport was opened, joined this week by the renewed North terminal. The total investment amounted to USD 610 million to add 16 air bridges to the 13 available, and to increase the capacity from 16 to 21 million passengers a year.

“This doesn’t seem to be Brazil”, acknowledged Civil Aviation minister, Moreira Franco, under the watchful eye of president Rousseff.

Eurnekian, however, is not interested in national rivalries. On the contrary, last month he bought a large part of a semiconductors plant in the Brazilian state of Minas Gerais with the idea of connecting it with the plant he already has in Chascomús, Unitec Blue, to integrate them as part of a plan of continental reach.


The entrepreneur is also working on the creation of a wind farm network to supply energy to Argentina, Brazil, Chile and Uruguay. And he has recently invited his Brazilian partner to take part in the Bioceánico Aconcagua Corridor, which will enable rail cargo transport between the Atlantic and the Pacific oceans through the Andes.

“I think the Brazilian presence in this project will be crucial. Brazil is a strong capitalist partner, with a powerful industry that should to be taken into account in any development process”, highlighted the businessman.

“Integration will give us critical mass. No country in Latin America can exceed alone the production levels of the United States, China, India, Russia or the European Union, because they have critical mass. The other step to be taken is to integrate the technological development. If we fail to start developing our own technology, we will always be drifting”, stated Eurnekian.


  • First Privatization

With his local partner, the businessman conducted the construction works in Natal airport, the first air terminal to be privatized by Brazilian president Dilma Rousseff back in 2011.

  • Technology

In the state of Minas Gerais, Mr. Eurnekian bought a large part of a semiconductors factory which he plans to complement with the factory he already owns in Chascomús, called Unitec Blue, to integrate both companies in a regional expansion plan.

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Lunes, junio 16th, 2014

Ezeiza Airport has Argentina’s most advanced Air Traffic Controller Simulator


Simulador de vuelo 3

Today, Ezeiza’s Air Control Center will start using the most avant-garde electronic device for air traffic controller training. This system, sponsored and coordinated by Aeropuertos Argentina 2000, has been specifically designed for Argentina by the MITRE Corporation’s Center for Advanced Aviation System DevelopmentThe installed module has been specially developed for Argentina; it uses cutting-edge technology (artificial intelligence applied to voice recognition systems) and meets the international standards set forth by the International Civil Aviation Organization (ICAO). Among other features, it helps save both time and money since it does not require the presence of pilots during controllers practice and training. It has a voice recognition and synthesis system that allows simulation in Spanish and in English (depending on the airline and flight controlled) and correctly interprets commands received in English with an accent or idioms and slang from our country. “Virtual pilots” verbally answer the controller, who can prove the result of his commands through the radar display in front of him. Besides, the device can analyze the actions executed in each session and allows instructors to make an impartial assessment of the results obtained.

The top executives of both companies took part in the simulator commissioning: Eduardo Eurnekian, Rafael Bielsa, Matías Patanian and Roberto Curilovic of AA2000; Lillian Zarrelli Ryals, Bernard Lisker and David Barrett of Mitre.

Those also present at the ceremony were the minister of security of the province of Buenos Aires, Alejandro Granados; ORSNA’s head, Gustavo Lipovich, and Alberto Palermo, director of the Air Force National Air Traffic Control Administration.

All the project promoters agreed in describing our country as a world leader in the application of this type of system. In turn, they highlighted Aeropuertos Argentina 2000′s vision in recognizing cutting-edge technologies to streamline airport security; a significant advance in air controller training and a key element to perform efficient flight procedures.

MITRE is a not-for-profit corporation based in Washington, DC. For the last 60 years, it has had the world’s largest lab of its kind, where it develops avant-garde air traffic procedures and a wide range of electronic prototypes.

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Lunes, junio 9th, 2014

Corporación América officially opened the new Natal Airport

Nuevo Aeropuerto de Natal

With an investment of R$500 million the new International Airport Governador Aluízio Alves was officially opened. The airport is located in Natal, the capital city of the northeast state of Rio Grande do Norte, in Brazil.

The new air terminal, built by the Inframerica consortium (comprised of Corporación América, headed by Mr. Eduardo Eurnekian, and Brazilian company Engevix) is delivered seven months ahead of schedule as stated in the bid specifications.

The international airport started operations on 31 May and in the setting up process, all operations and services previously rendered in the old airport Augusto Severo -now turned into a military air base- were relocated to this new terminal.

Currently, the airport Governador Aluízio Alves has a capacity for up to 6.2 million passengers; with the number predicted to double over the next decade.

“We are delivering a terminal with capacity for more than twice the current passenger movement: Natal airport is an airport of the future”, pointed out Martín Eurnekian, Corporación América director, in charge of the airport business unit.

It is a 28-year concession agreement with an estimated total investment of R$650 million, of which R$500 million have already been invested. The construction works created 4000 direct jobs and nearly 3000 indirect jobs.

The opening ceremony was headed by Civil Aviation ministry, Wellington Moreira Franco; Rio Grande do Norte state governor, Rosalba Ciarlini; Chamber of Deputies president, Henrique Alves, and São Gonçalo do Amarante prefect, Jaime Calado.

The authorities of Corporación América also present at the inauguration event were Martín Eurnekian, director in charge of the airport business; Matías Gainza Eurnekian, president of Unitec Blue and Unitec do Brasil; Hugo Eurnekian, president of the oil company CGC and director of energy investment; Jorge del Águila Eurnekian, CEO of Armavir, Fin del Mundo and NQN wineries and person in charge of the agro-industrial undertakings of the group, and Matías Patanian, CEO of Aeropuertos Argentina 2000.

The passenger terminal has an area of 42,000 m2, with parking space for 860 vehicles, 42 check-in desks and 6 air bridges with capacity to operate 8 airplanes at the same time. In turn, the operations yard has an area of over 210,000 m2. The runway is 3300m x 60m, and is prepared to receive the colossal Airbus A380.

Building the new Natal airport demanded the use of 25,000 m2 of granite, 37,000 m3 of concrete, 2000 km of wire-cable and 3,700,000 kg of steel. The terminal design includes the installation of 55 retail stores and the provision of free wifi service, as in the terminals of Brasilia, Ezeiza y Aeroparque.

Based on its geographical location, Natal airport is not only a strategically located terminal in the tourist route of the Brazilian northeast beaches (Pipa beach, among others), but it is also the airport of South America with the best connectivity with and shortest distance from the south of Europe. Indeed, a flight between Natal and Lisboa will only take 6.5 hours.

Corporación América, member of the Inframerica consortium, which besides having the concession of Natal airport has the concession of Brasilia airport, is the world’s largest private airport operator in terms of number of terminals it operates, which currently amount to 53, distributed in Argentina, Uruguay, Brazil, Peru, Ecuador, Italy and Armenia. The holding company has also diversified its activities into other business units, such as construction, services, agro-industry, energy (gas and oil, biofuels, wind energy), semiconductors and nanotechnology (with Unitec Blue in Argentina and Six-Unitec do Brasil in Minas Gerais)

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Miércoles, mayo 28th, 2014

CICyP lunch meeting

Eurnekian almuerzo CICyP 5


Eduardo Eurnekian, president of the Inter-American Council of Commerce and Production (CICyP), received Juan Carlos Fábrega in the institution’s traditional breakfast meeting, which took place on 28 May at Hotel Alvear. The Central Bank president was the main speaker at the event which was attended by 400 people.

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Lunes, abril 28th, 2014

Corporacion America wins bid to build and operate a new Cuzco Airport in Peru


Argentine holding Corporacion America already operates 6 airports in Peru and 53 in the world.

On Friday 25 April, Corporacion America and its Peruvian partner, Andino Investment Holding –associated together in Kuntur Wasi consortium (condor nest, in quechua)- won the international bid for the design, construction and operation of the new Cuzco international airport in Peru .

The new airport, with a 4 km-long runway and an initial estimated capacity to serve 5 million passengers, will be located in the neighbourhood of Chinchero, halfway between the tourism locations of Cuzco and Machu Picchu.

The Kuntur Wasi consortium will operate the airport for a period of 40 years. In turn, the 5-year construction project is estimated to require a total investment of USD 550 million.

The winning bid was for USD 265 million and Kuntur Wasi competed against the consortium between France’s Vinci and Peru’s construction company Graña and Montero, and the consortium between Portugal’s Mota and Colombia’s Ovinsa.

Based on the number of airports it operates, Corporacion America is the world’s largest private airport operator. It runs airports in Argentina, Brazil, Uruguay, Peru, Ecuador, Italy and Armenia.

Last April 16, President Dilma Rousseff inaugurated the new south terminal of Brasilia airport, the first among the group of airport construction works that are getting ready for the World Cup in Brazil.


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Jueves, abril 24th, 2014

The New Brasilia Airport, operated by Corporación América, gears up for the World Cup.



Brazil’s president, Dilma Rousseff, jointly with Corporación América’s directors, headed the opening ceremony of the new Juscelino Kubitschek airport south terminal.

Today, Corporación América, a company that runs 53 airports worldwide, officially inaugurated the new south terminal of Brasilia airport.

Built up by Inframerica (consortium made up of Corporación América and the Brazilian company Engevix), in a record time of 15 months, the new south terminal was extended by 40,000 sqm while the number of air bridges was brought from 13 to 29 in Brazil’s capital airport.

The works, carried out with the airport operating normally, will expand the air terminal’s traffic capacity from 16 to 21 million passengers.

Likewise, by taking the total surface of the aircraft maneuvering area to 300,000 sqm, Brasilia will be ready to receive up to three 747-400 planes at the same time. With these modifications, the airport will qualify as category E, enabling it to start operating aircrafts of the 777-200 type.

Besides the restructuring and expansion activities completed in this first stage (delivered one month ahead of the deadline in the contract), there is the construction of a 1500 sqm VIP room (Latin America’s largest), a 3100-vehicle capacity parking lot and a new access connector.

In May, Corporación América will build the northern terminal of Brasilia airport -today in its final stage. This terminal, with a surface area of 15,000 sqm, will have 8 air bridges added to the existing ones.

A total of 82,000 cubic meters of concrete, 3000 tons of steel and 320 km of electrical wiring were used in this work that took 15 months and demanded an investment of USD 600 million.

The opening ceremony was attended by the president of Brazil, the governor of the Federal District and minister of Civil Aviation, Wellington Moreira Franco, the directors of Corporación América, Martín and Hugo Eurnekian, jointly with Matías Gainza Eurnekian.

Martín Eurnekian, Corporación América’s director, stated in this respect that: “It is one of the most important airports we have built and restructured in the last years, both in terms of passenger numbers and of the Brazilian capital’s strategic location, main hub of the continent’s southern cone”.

In her speech, Brazil’s president, Dilma Rousseff, emphasized “the speed and quality” in which this new terminal was built, and added that the transformation and improvement of the airport honored the name of Kubitschek, the former president that 54 years ago started the foundation of Brasilia.

The Brazilian head of State also highlighted the participation of Corporación América, “a company from Argentina, from our dear Mercosur”. “Please feel welcome”, she concluded, referring to Brazil’s need to build partnerships with companies of the like of Eurnekian’s holding company, which has proven experience and know-how in the service industry.



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Martes, abril 15th, 2014

Eduardo Eurnekian chosen as Outstanding Latin American Air Transport Innovator


Mr. Eurnekian has devoted his life to development in several business fields, always focusing on motivating and introducing invectiveness, work and innovation in different industrial sectors, particularly in the air business. This is why he was recognized by the thousands of AeroLatinNews readers -communication media specialized in the field- with the 2014 Outstanding Latin American Air Transport Innovator prize in the 2014 Gala Awards; ceremony held during the Wings of Change Conference in Santiago de Chile, within the FIDAE Air Show.

It was Mr. Eurnekian’s nephew and AA2000 vice-president, Martín Eurnekian, who attended the Conference in Chile and received the prize on his uncle’s behalf.

For an insight into his life it can be stated that Eduardo Eurnekian was born on December 4, 1932, in Buenos Aires, Argentina. Following his first steps in the family-owned textile industry company, he got diversified into communications & media by creating the first TV-Cable company in Argentina, as well as getting involved in free-to-air TV, and in the acquisition of four radio stations and two newspapers.

As years went by, this renowned entrepreneur also got engaged in projects in such diverse sectors as infrastructure, agriculture, energy, retail and banking, thus being considered one of Latin America’s most successful businessmen.

As a result, he became president of Corporación América and 1st vice-president of the Argentine Chamber of Commerce.

Since 1998, Corporación América ( has constantly generated attractive business units among which there stand out the Airport and Air Cargo Terminals (Aeropuertos Argentina 2000), Energy (Unitec Bio), Infrastructure (Helport), Financial Services (Converse Bank), Agro-industries (Unitec Bio), throughout Latin America, Europe and Asia.

Corporación América currently boasts the concession of 48 airports in Argentina, Italy, Armenia, Ecuador, Peru, Brazil and Uruguay.

Most recently, the Group has set up the “Bioceanico Aconcagua” Corridor international consortium for the construction of a tunnel that will connect the Pacific and Atlantic oceans through a 205-km railway route between Chile and Argentina.

Other awards he received include:

  • The “Businessman of the Year” distinction, Argentina (1995).
  •  The “Leonardo Award”, received from the Italian Government (1999).
  • The “Saint Gregory Illuminator Order” medal, received from the Armenian Government (2001).
  • The “Man of the Year” distinction, received from the Armenian General Benevolent Union (2010).
  • The “Knight of Holy Etchmiadzin” order, received from the Catholicos of all Armenians, His Holiness Karekin II (2011).
  • The 2014 GALA Award as Outstanding Latin American Air Transport Innovator

Source: AeroLatinNews

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Jueves, febrero 27th, 2014

Corporación América acquires majority stakes in Florence airport


It is the second airport terminal of the Tuscan region on which the Argentine holding landed within a 40-day period: on January 21 Corporación América had been awarded the control of the airport of Pisa. 

Corporación América bought 33.4% of the capital stock of Aeroporto di Firenze (ADF), the partnership that operates the Peretola airport in Florence. The operation was announced today to Italy’s Stock Exchange by the selling group and its closing is scheduled for March 4.

With this acquisition, in addition to the purchase of 23.4% stake of SAT (controlling partnership of the Pisa terminal), the holding run by Eduardo Eurnekian made a foothold in the two main airports of the Tuscan region, integrating them in a “Tuscan airport system”.

After a meeting held in Rome with Corporación América’s president, Eduardo Eurnekian, and the president of the Tuscan region, Enrico Rossi, the Italian official referred to the acquisition in the following terms: “It is another positive example of how attractive the region is to private investment”, also highlighting that Corporación América “is an industrial investor specialized in the airport system management, determined to bet on Tuscany”, and with the solid objective of building, straight away, “an integrated airport pole between Pisa and Florence, that will take it to the best level nationwide”.

Tuscany is one of Europe’s main tourist destinations. It is predicted that the Pisa-Florence airport system will work in synergy with the neighboring port of Livorno, whose expansion and upgrading to welcome large passenger cruise ships has been planned by the Tuscan Region Government.

Upon entering the Florence airport, Corporación América will be operating 52 airports, turning into the world’s largest airport operator in terms of number of terminals managed.


Buenos Aires, 27 February, 2014

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Miércoles, febrero 26th, 2014

Eduardo Eurnekian: a magnate of many talents with an eye on Brazil



Owner of a USD 1.8 billion fortune, this entrepreneur does business in various fields such as banks and vineyards.

Upon entering the airport and nanotechnology sectors in Brazil, he now wants to lure companies into a regional integration project.

BUENOS AIRES AND RIO – Called by many “the lord of the airports”, the Argentine magnate Eduardo Eurnekian, 81 and single, is much more than that. In the last 40 years, period in which Argentina went through violent dictatorships, civilian governments that failed to complete their terms and severe financial crises, Mr. Eurnekian built an empire that now seems to have no boundaries. His powerful Corporación América already operates 52 airports worldwide (including those in Natal and Brasilia). While this year, the plan is to obtain 21 air terminals in Greece and some others in Latin American countries such as Chile and Peru.   

The airports are the core of his empire which comprises vineyards, oil exports, biodiesel and banks. His businesses are spread over ten countries, including Armenia, Eurnekian’s parents’ motherland. In there he has wineries, two airports, a bank and the concession of the local post service.

Brazil has a privileged place in the magnate’s plans. The acquisition of Eike Batista’s 33 percent stake in the SIX Semicondutores startup represents the businessman’s first step in the creation of a nanotechnology specialized pole between the Argentine city of Chascomús (Buenos Aires province) -where back in February 2013 the company inaugurated Unitec Blue- and Ribeirao das Neves (MG) where SIX is based. Unitec Blue produces chips for credit cards, cell phones and electronic identification, among others. With the incorporation of SIX, which will produce silicon, input used in this industry, the group will consolidate its leadership in the region.

“No activity fully persists in time. At present, this activity (semiconductors) is in full evolution. That’s why we are interested in it”, explained Eduardo Eurnekian to GLOBO last Thursday during his brief visit to Brazil, when he was in BNDES to sign the share purchase proposal with SIX.

His deep belief in this metamorphosis is what encourages this businessman -who sponsored Diego Maradona -to venture into new businesses. Upon having inherited his family’s textile company, he purchased newspapers and TV channels in the 80s. He was the first businessman in Argentina to bet on cable TV, with the Cablevision network, today controlled by Grupo Clarín. Now, besides nanotechnology, he has engaged in an ambitious regional integration project, the Bioceánico Aconcagua Corridor, that will link the Atlantic and the Pacific.

The project comprises a 205-km railway, along which electric trains will run, connecting the city of Los Andes (Chile) with the city of Luján de Cuyo (Argentina), also including a 52-km long tunnel that will cross the Andes. Today this route is done by truck.

We introduced the project to the governments of Argentina and Chile, which created a binational entity to discuss it. We believe that a bidding process for the railway is just a matter of time and that the Brazilian companies can become interested”, states Martín Eurnekian, magnate’s nephew, who also came to Brazil. If it materializes, the project will be one more item in his wide range of businesses. Eduardo Eurnekian is one of the wealthiest men in Argentina, with a fortune valued at UDS 1.8 billion by Forbes magazine. His direct style is his trademark and those who know him well claim he is a master of negotiation. With great energy for his age, he goes swimming every morning before work. He likes being among young people. That is one of the reasons for having given his nephews -he has no children- each of his business units. He still finds time to preside over the International Raoul Wallenberg Foundation, created to honor the heroes who saved those persecuted in the Holocaust.    

He also interacts with the political world like no other. For four decades he coexisted with all the governments which passed by the Pink House, without any disputes. In mid-2013, he took part in the businessmen meeting with president Cristina Kirchner and, even though he had admitted “not being satisfied” with the country’s economy, he has always avoided criticizing the government. Interviewed by GLOBO about his opinion of Cristina Kirchner, he avoided controversies:

“It is a democratic government and in a democratic government the will of the majority has to be respected”.

The political style is not respected when dealing with the press. Last year, Mr. Eurnekian publicly criticized the country’s most famous journalist, Jorge Lanata, who has filed corruption complaints against the Kirchner government: “You make things bigger than what they really are, you want blood, you don’t want social peace“, he said against Lanata in his program in radio Mitre.





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Miércoles, febrero 5th, 2014

Group wants to operate further airports in Brazil

By De Brasília


Corporación América, with profits amounting to USD 2 billion a year, is eyeing more airports in Brazil. In partnership with Brazilian company Engevix, the Argentine group already manages the airports of Brasília (DF) and São Gonçalo do Amarante (RN), with 50% of the share. Martín Eurnekian, director accountable for the company’s businesses in the country, estimates that there are still at least ten attractive air terminals for the private sector.

“Manaus, Recife, Salvador, Fortaleza, Porto Alegre and Curitiba could be profitable investments, exemplifies Eurnekian, adding that the central airports of Congonhas (SP) and Santos Dumont (RJ) are also attractive. However, the Civil Aviation Secretary has already made it clear that the two latter have no chances of falling in private hands.

Eurnekian considers that if new airport concessions are put out to tender from 2015 onwards, the tendency should be for the government not to impose restrictions to the participation of existing airport operators. Those that already managed one of the airports privatized in the first round cannot lead consortiums that bid for the airports Galeão (RJ) y Confins (MG).  According to Eurnekian, the government’s main objective – having a variety of operators to promote competition among terminals- has already been fulfilled.

Corporación América, which operates 33 airports in Argentina, is undergoing an expansion process in South America and Europe. It is already the world’s largest private operator, in terms of number of air terminals, but it plans to keep on expanding. In January, it acquired 23% stake of the airport of Pisa (Italy), besides having vigorously entered the tender for some 20 provincial airports in Greece (Athens is not in the list).

The group is also seeking concessions for the airports of Santiago (Chile), Cuzco (Peru) and Barranquilla (Colombia). Currently, Corporación América’s business in the sector also includes the airports of Zvartnots (the largest in Armenia), Montevideo (Uruguay), Guayaquil and Galápagos (Ecuador), Trapani (Italy) and five small air terminals in Peru. Last year, the list was expanded with the addition of the Milano Linate airport, the largest executive aviation airport in Italy. As a whole, the group holds 51 airport operations in the world.

Last month, Corporación América also concluded the acquisition of a 33% stake of Six Semiconductores, replacing the businessman Eike Batista in the project. The factory, which receives investments for R$ billion, is located in the metropolitan region of Belo Horizonte and will start production in 2015. Mr. Eurnekian explains that the Argentine group already produces chips for credit cards, cell phones and electronic traceability in Chascomús (120 kms off Buenos Aires), through the business unit Unitec Blue.


The businessman foresees and intense commercial exchange in this area and affirms that Six can turn into an example of productive integration in Mercosur. “Without quotas and barriers, as in the case of the car and washing machine industries, but a real integration”, states Eurnekian.



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Martes, febrero 4th, 2014

Megaproject aspires to link Chile and Argentina


By Daniel Rittner | De Brasilia

Eurnekian, group’s director, seeks to partner up with a Brazilian company. “It can be either an operator or a construction company.”

A multi-million major undertaking, that comprises 52 km of tunnels across the Andes range, seems not to be the most feasible project in view of the severe instability Argentina has been undergoing. One of the country’s largest business conglomerates, Corporación América, with investment in such diverse sectors as airports and semiconductors, has decided to overcome the existing obstacles such as the Andes altitude and the financial market turmoil to turn it into a reality.

The group, controlled by the Eurnekian family, seeks to unblock this year the ambitious plan of building a railway link to connect the Argentine and Chilean networks. And, to this aim, it is searching for a Brazilian partner. “It can be either an operator or a construction company”, says Martín Eurnekian, Corporación América’s director and nephew of Eduardo Eurnekian, the main shareholder of the group and listed as the fourth wealthiest man in Argentina by Forbes magazine. Martín states that discussions have begun with some contractor companies, mainly Camargo Correa and América Latina Logística (ALL). However, he admits that talks have not been progressing into a definite partnership. “We want to include Brazilian interests in the project.”

The undertaking, which will require investments for around USD 3.5 billion in its first stage, is known as the Bioceánico Aconcagua Corridor and it would enable the crossing of the Andes all year long with no interruptions. Today, the only way to transport cargo from one side of the mountain range to the other is by land, through the Cristo Redentor pass. But, this pass is not operational and remains fully closed as least 60 days a year, due to severe weather conditions stemming from strong snowstorms between the months of May and October.

Even when there are no climate related blockages, the crossing currently takes 12 hours and the road capacity is about to reach its saturation point, with 5 million tons of cargo being annually transported between both sides of the mountain range.

The Bioceánico Corridor project would comprise a new 205 km long railway section, with an electrical train, connecting Luján de Cuyo (Argentina) and Los Andes (Chile). Since it is planned for a lower altitude, the design avoids large slopes and allows the speed of 80 km/h, which reduces the time required to cross the Andes to just four hours, and it will be operational 365 days a year. To this aim, the construction of a 52 km tunnel network is needed.

The undertaking, which will enable the connection of the Atlantic and Pacific ports since 2025, is divided into three stages. In the first construction stage, which would start in 2015 and take ten years to complete, a maximum transport capacity of 24 million tons a year would be reached. Only one single track tunnel is planned, with the possibility to expand it two times in the future. Ahead in time, the capacity could reach 77 million tons a year. According to the technical feasibility studies this cargo volume will be reached in the year 2040.

A consortium, led by Corporación América, completed all the feasibility and engineering studies of the project. An investment of around USD 25 million was required to conduct the work. The Chilean company Navieras, the Japanese Mitsubishi, the Italian Geodata and the Argentine Contreras Hermanos also take part in the consortium. Their shareholding interest is secretive.

According to Eurnekian, the cargo of Southern Brazil with destination Asia or the US west coast can count on a new corridor that acts as an export facilitator, allowing the cargo to be transported by railway all through Argentina and Chile to a port in the Pacific.

The businessman ensures that this would allow Brazilian exporters to reduce time and costs of operations. “Today, a large amount of this cargo is transported by sea through the Magallanes Strait, which is expensive, or through the Panama canal, which is overloaded”, explains Eurnekian.

One of Corporación América’s stated goals when searching for a Brazilian partner is engaging the Brazilian government in the Bioceánico Corridor matter. Another potential advantage, in case a national construction company is in, is the BNDES financing to Brazilian exports of goods and services used in civil works.

Brazilian investors will also be welcome, if there is no chance of progressing with talks with an operator or a contractor. Talks with ALL, for example, will unlikely continue because the company’s concessions in Argentina have been retaken by the local government. Meanwhile, in Brazil, the company faces pressure by the government to further invest in the São Paulo network -which limits its room for further ventures in South America.

Financing is exactly one of the most crucial aspects of the project, due to the Argentine macroeconomic situation, whose tendency is to turn loans expensive. Details of the undertaking have already been presented to multilateral financing institutions. In 2009, Argentina and Chile signed a treaty of “physical integration and economic complementation”, creating a binational entity which will be in change of the Bioceánico Corridor tender process.

In July 2011, the private consortium presented the feasibility studies to the binational entity. Eurnekian’s expectation is that the tender process be prepared throughout this year. The consortium, led by Corporación América will normally take part in the tender. “But, we obviously have an advantage, given that we deeply know the details of the project”, stated the Argentine businessman. In case the consortium is not awarded the concession, it will be fully reintegrated by the studies executed, as it happens with the hydroelectric plants tenders in Brazil.


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Sábado, enero 25th, 2014

Corporación America, Morgan Stanley Unit to Bid for Santiago Airport



By Daniel Cancel and Juan Pablo Spinetto

Jan. 23 (Bloomberg) — Argentine billionaire Eduardo

Eurnekian’s Corporacion America plans bid to run Santiago’s

international airport with Morgan Stanley Infrastructure,

company spokeswoman Carolina Barros said.

* Buenos Aires-based Corp. America signed MOU with the Morgan

Stanley unit and is close to final agreement: Barros

* Morgan Stanley spokesman Matt Burkhard declined to comment

* Corp. America and Morgan Stanley unit plan to find Chilean

partner: Barros

* Investment in Santiago airport would be between $700-800m,

Martin Eurnekian, head of Corp. America’s airports business

said in an interview in Davos yday

* Current concession for Santiago airport operated by SCL

Terminal Aereo Santiago SA ends in 2015

* Chile’s Public Works Ministry is currently reviewing

potential investors for concession and hasn’t yet called for

bids, a press official said

* Preliminary review of investors to end 60 days before

bidding round is announced

* NOTE: Corp. America operates 51 airports worldwide,

including 33 in Argentina


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Viernes, enero 24th, 2014

Eurnekian Targets Greek Airports Following Crisis

By Juan Pablo Spinetto and Daniel Cancel

Jan. 23 (Bloomberg) — Argentine billionaire Eduardo Eurnekian’s Corp. America holding company is bidding for all of Greece’s airports  as the group looks to expand in Southern Europe and take advantage of  discount prices after the crisis.

Corp. America’s airport operating unit is bidding for 21 Greek airports, Martin Eurnekian, head of the division and a nephew of Eduardo, said in an interview in Davos yesterday. The group, which is acquiring a 23 percent stake in Pisa, Italy’s airport this week, is also trying to complete a plan to integrate Tuscany’s airports by adding Florence, he said.

“We’re going to be very aggressive on all fronts,” said Eurnekian, 35. “A lot of opportunities have opened up after the crisis.”
Greece, which sparked Europe’s sovereign woes in 2009 and required two bailouts, has seen its economy contract for 21 consecutive quarters. While Greece originally agreed to a goal of raising 50 billion euros ($68 billion) by 2015 through asset sales as part of austerity measures required by the EU and the International Monetary Fund, officials had to scale back their plans as transactions were delayed.

The country plans to sell stakes in two ports in February. Corp. America, which operates 51 airports worldwide, with the majority in Argentina, is also preparing to bid for concessions in Cuzco, Peru, Barranquilla, Colombia, and the main international  airport of Santiago later this year, Eurnekian said. The company, based in Buenos Aires, is renovating the Brasilia airport before the World Cup in June with plans to triple sales through retail by 2015 and make it the main domestic hub of Latin America’s largest economy.


Financing Sources

The Corp. America airport operator unit, which generates as much as $1.2 billion of revenue a year, doesn’t have any financing needs in the bond market for now, Eurnekian said. The company used proceeds from its $300 million bond sale in 2010 to renovate the Ezeiza airport in Buenos Aires and is receiving financing at low costs from Brazilian development bank BNDES, he said.
While the bid round for the Santiago airport would imply higher capital costs than more undeveloped markets, the company is working with a financial institution to look for a local partner and make a

competitive bid, Eurnekian said. Chile will require as much as $800  million investment, he said.

A press official at the Chilean Public Works Ministry said no one was immediately available to comment on the bid round.

“Our mandate is to grow in the Americas and Europe with a focus on the Mediterranean,” he said. “We always invest in projects with the goal of maintaining managerial control.”

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Lunes, enero 13th, 2014

Eduardo Eurnekian says thanks to Robert Morgenthau


On 9 January 2014 the Chairman of the International Raoul Wallenberg’s Foundation, Eduardo Eurnekian, met Robert Morgenthau, District Attorney for New York County from 1975 to 2009 and next of kin to a family with a decisive political position during Franklin D. Roosevelt and Theodore Roosevelt administrations. Eurnekian met Morgenthau in order to express the gratitude of the Wallenberg Foundation for the key humanitarian role played by his family on behalf of persecuted people, Armenians, Jewish and Gypsies among many other minorities, during WWI and WWII.

Robert Morris Morgenthau is an American lawyer. From 1975 until his retirement in 2009, he was the District Attorney for New York County, the borough of Manhattan. He is the second longest-serving district attorney in United States history.

Robert Morris Morgenthau was born in 1919 in New York City into a prominent Jewish family that had emigrated from Baden in 1866. He is the son of Elinor Fatman and long-time Secretary of the Treasury Henry Morgenthau, Jr. His grandfather, Henry Morgenthau, Sr., was United States Ambassador to the Ottoman Empire during World War I.

After graduating from the New Lincoln School, Deerfield Academy, and Amherst College, he enlisted in the United States Navy, serving for four and a half years, during World War II. He attained the final rank of Lieutenant Commander and served as the executive officer of both the USS Lansdale and the USS Harry F. Bauer. He saw action in both the Mediterranean and Pacific theaters, mostly aboard destroyers. Morgenthau graduated from Yale Law School in 1948.

His father, Henry Morgenthau Jr. (1891-1967) was Secretary of the Treasure in the WWII years. On January 16, 1944, following Morgenthau’s advise, President Roosevelt agreed to create the War Refugee Board (WRB), the first major attempt of the United States to deal with the annihilation of European Jews. The Board sponsored the Raoul Wallenberg mission to Budapest and allowed an increasing number of Jews to enter the U.S. in 1944 and 1945. As many as 200,000 Jews were saved in this way.

His grandfather, Henry Morgenthau (1856 – 1946) was a lawyer, businessman and United States ambassador, most famous as the American ambassador to

the Ottoman Empire during the First World War. As ambassador to the Ottoman Empire, Morgenthau has come to be identified as the most prominent American to speak out against the Armenian Genocide.


Although the safety of American citizens, mostly Christian missionaries and Jews, was a major concern in the Ottoman Empire early in his ambassadorship, Morgenthau stated that the one issue he was most preoccupied was the Armenian Question. After the outbreak of war, the U.S. remained neutral so the American Embassy – and by extension Morgenthau – additionally represented many of the Allies’ interests in Constantinople, since they had withdrawn their diplomatic missions due to the hostilities.

As Ottoman authorities began the extermination campaign of the Armenians in 1914-1915, Henry Morgenthau’s desk was flooded with reports nearly every hour by the American consuls residing in different parts of the Empire, documenting the massacres and deportation marches that were taking place. Faced with the accumulating evidence, he officially informed the U.S. government of the activities of the Ottoman government and asked for it to intervene. Henry Morgenthau is considered a hero in Armenia, where a tree in his honor stands on the Walk of Righteous Non-Armenians.

Robert Morgenthau was a close friend of Peter Malkin (1927-2005), a former Israeli intelligence agent who in 1960 captured Adolf Eichmann in Argentina, and who afterward captured him again on paper, in his second career as a painter and writer. A Mossad agent for 27 years, Mr. Malkin was the author of a memoir, “Eichmann in My Hands” (Warner, 1990). Written with Harry Stein, it chronicles Mossad’s pursuit and capture of Eichmann, an architect of the Final Solution, the systematic Nazi program to exterminate Jews.

The IRWF is an educational NGO created by Baruch Tenembaum, 2009 Nobel Peace Prize Nominee.

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Lunes, diciembre 23rd, 2013

CICeP’s third breakfast meeting


Eduardo Eurnekian, president of the Inter-American Council of Commerce and Production (CICyP), received Mr. Ricardo Lorenzetti in the third breakfast meeting organized by the institution, which was held today at Hotel Alvear. The head of the Supreme Court was the main speaker of the event attended by over 300 businessmen.

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Jueves, diciembre 5th, 2013

The OSDE Foundation and CARI honoured Eduardo Eurnekian

EE 19-11

He was honoured as a reference of the Armenian community in Argentina. Corporación América’s president took part in the event held to celebrate the Armenian and Greek communities in our country, organized by the OSDE Foundation and the Argentine Council for International Relations (CARI).

The event was held on Tuesday 12 November, within the program “Tribute to the Communities that built Argentina” at the auditorium Ing. Héctor Amorosi in the city of Buenos Aires.

Those also present in the ceremony were Vahagn Melikian, ambassador of the Armenian Republic to Argentina; Eleni Leivaditou, ambassador of the Hellenic Republic of Greece to Argentina; Adalberto Rodriguez Giavarini, president of the Argentine Council for International Relations (CARI) and Tomás Sánchez de Bustamante, president of the OSDE Foundation.

Besides receiving his prize, Mr. Eurnekian talked about his family history in the country and the bonds to his mother land. In the ceremony a video was screened displaying images of the cultural and social influences of these two countries in Argentina.

Source: Hostnews

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Jueves, diciembre 5th, 2013

Cabinet reshuffle: Remarks by Eduardo Eurnekian

EE 20-11

Corporación América’s president, Eduardo Eurnekian, is positive about the changes of government officials in the national cabinet made by Argentine president Cristina Fernández de Kirchner.

Mr. Eurnekian expressed his “full support” to the new government cabinet and highlighted that the appointments “evidence the president’s confidence in this period, in which everyone should respect the country’s interests and the presidential team”.

“We are going through a moment in which we have to take part in the global market and the capital market to actively lure the flow of investors and reach a higher regional integration level”, he explained.

From abroad, the businessman stated that “the support is necessary so that the road of production remains unchanged”.


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Martes, noviembre 19th, 2013

The Bioceánico Aconcagua Corridor makes progress

15 EE 19-11

Buenos Aires, 14 November 2013

“The South American integration is already happening”, affirmed Corporación América’s president, Mr. Eduardo Eurnekian, when confirming the feasibility of the Bioceánico Aconcagua Corridor construction. “The US built its first transcontinental railway in 1860, why can’t South America do it now?”, he wonders.

The Financial Times published a column of John Paul Rathbone in which Eurnekian assures that “the hardest part is the financing” of the project not the engineering.

“The 52km tunnel will connect and increase the number of infrastructure links planned to cross the South American continent – projects that show the shift in the region’s trade patterns from the Atlantic towards the Pacific” the publication reveals, and adds that the project-planning consortium is also formed by Mitsubishi of Japan, Grupo Empresas Navieras of Chile and Geodata of France.

The column also highlights that according to the feasibility study, in which Corporación América has spent ARG$25 million, it is estimated that the project could push down shipping costs between Cordoba, Argentina, and Manzanillo (the closest Mexican port with direct rail links to the eastern US) from ARG$210 to ARG$177 per ton of cargo.

The columnist forecasts that the project, which has progressed with its ups and downs for the last five years, will pick up its pace after Chile’s upcoming presidential election.

About the Bioceánico Aconcagua Corridor

The Bioceánico Aconcagua Corridor, requiring an investment of USD3 billion, is an interoceanic railway link that will bring the physical and commercial integration of the Pacific and Atlantic oceans to a new level. It proposes a fundamental solution for growth in the region, with great impact on the expansion of the economies, the nations and the well-being of their inhabitants.

The strategic importance of the Pacific basin for the global economy makes it urgent that South America has a safe and reliable outlet to this ocean. Today, there is no efficient physical connection, since the Andes, measuring 7200 km long and 4400 m high on average, act as a barrier. The border between Chile and Argentina comprises 5150 km of mountain range and 83% of the cargo running between both sides of the Southern Cone is transported by sea, which means longer and more expensive roads.

The Cristo Redentor Pass fails to be a reliable option since it is closed for around 45 to 60 days per year, between May and October, due to severe high mountain weather conditions. All this, hinders the optimization of logistical planning and its road capacity is about to reach its saturation point as the abrupt geography does not allow for gradual expansions.

This project solves the Cristo Redentor Pass with the Bioceánico Aconcagua Corridor, which includes:

• A 54km long base tunnel, ensuring lower costs, lesser time and 365 days of operation.

• A high-cargo-capacity electrical railway which represents a long term solution as it will transport 77 million tons per year. The railway is highly efficient in energy use; working with an electrically powered train is an optimal solution both in terms of transport costs and environmental impact.

• An open single gauge system from the Pacific to the Atlantic, fully multimodal, suited to transport all types of cargo.

• Two multimodal stations in both ends of the system, which will allow the loading and unloading of all cargo formats, including trucks with drivers.

In just 205 km, the Bioceánico Aconcagua Corridor solves the weakest point in the Mercosur-Chile axis, saving the Andes crossing with a cutting-edge technical solution. This project will bring benefits to an area of over 3 million km2 and a population of 126 million inhabitants that account for 48% of South America’s total, and where 70% of the continental economic activity is produced.

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Miércoles, octubre 16th, 2013

Boudou officially inaugurates Unitec Blue Plant


Argentine vice-president Amado Boudou, the minister of industry, Debora Giorgi, the secretary of presidency Oscar Parrilli and the minister of security of the province of Buenos Aires, Alejandro Granados officially inaugurated today the plant of Unitec Blue, joined by Eduardo Eurnekian, president of Corporación América and Matías Gainza Eurnekian, head of the nanotechnology company.

Boudou praised the investment which is aimed at “contributing to Argentina’s steady growth and job creation, as this plant, which has employed 300 young people, most of them from the city of Chascomús”.

“It is important that we take care of our companies and businessmen, of our work and workers and also of our internal market so that it consolidates and grows”, he highlighted.

In his speech he stated that “we are celebrating an investment of local businessmen, who responsibly invest in our country. We are celebrating that in the past investment used to go to the service sector, and today it goes to the manufacturing sector, and to the generation of new technologies”, he emphasized.

In turn, UNITEC BLUE president, Matías Gainza Eurnekian, welcomed all attendees to the opening event highlighting that the move points to “reaching a national and comprehensive production”, that goes from the production of raw material to the application of electronic support and software development.”

“This will grant Argentina the possibility to become independent”, he explained and estimated that the plant will meet the challenge of “producing 1.5 billion chips”.

In mid-2013, UNITC BLUE, a technology company of the Argentine holding Corporación América, started up its plant in the city of Chascomús with an annual production capacity of 1.15 billion chips.

The firm plans total investments in the facility to reach USD 1.2 billion.
The plant was mounted in a 10-month record time. UNITEC BLUE takes part in the technological process with different product lines. Among them:

•    Tracking (medicine, livestock, tobacco, auto parts): Identification and tracking through smart devices with radio-frequency chips.
•    E-government (passport, ID card, driver’s license): IDs with electronic security measures (chips) and graphic security measures.
•    Memory devices:
- GSM (Global System for Mobile Communications)
- EMV – Financial migration from magnetic strip to microchip.
- Microelectronics
- Automobile industry sensors
- Photovoltaic power
- LED lighting
- Printed battery
- 3D holograms
- Silicon treatment

The initiative was exclusively financed by Corporación América. The first stage required a USD 200 million investment; 70% of which was used for the import of capital goods from Germany and the US.

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Miércoles, octubre 16th, 2013

Eurnekian announces the investment of USD 500 million to develop projects with YPF


09/10/2013 15:58 - Télam - Newswire

Buenos Aires, October 9 (Telam). The president of Corporación América, Mr. Eduardo Eurnekian, anticipated today that the group will hold talks with YPF to form a “strategic partnership”, in which it will invest USD 500 million to “develop projects” determined by the oil company.

Eurnekian made this announcement in the 2013 Oil and Gas Argentine Fair, held at Palermo fair grounds.

“We highly expect shale to represent a new source of growth stimulation”, explained the businessman, adding that the private sector will have to “answer back with operating efficiency and effectiveness”. (Telam)

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Lunes, octubre 7th, 2013

The Business Forum of the Inter-American Council for Trade and Production (CICyP), organization chaired by Eduardo Eurnekian, was held at Alvear Palace Hotel in the City of Buenos Aires

Almuerzo CICyP 2

Last October 2, governor Daniel Scioli gave a lecture joint by the president of the Inter-American Council for Trade and Production, Mr. Eduardo Eurnekian, and a number of businessmen who attended the event.

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Miércoles, octubre 2nd, 2013

Aeropuertos Andinos del Perú starts operations of new departure lounges and air bridges in Arequipa airport


The president of Peru, Ollanta Humala Tasso, and the minister of transport, Carlos Paredes, supervised the expansion of international airport “Alfredo Rodríguez Ballón” in Arequipa and started up the air bridges operations. They were joined by Carlos Vargas Loret de Mola, president of Aeropuertos Andinos del Perú (AAP), and Ezequiel Barrenechea, APP director and Corporación América representative.


The refurbished airport now has two separate departure and arrivals lounges for domestic and international flights. With a view to optimizing the time taken in passenger departure and arrival, the check-in area has been updated and a room for luggage inspection has been created. Passengers will board on the second level, through boarding bridges. The air bridges will not only improve airport operations security, but also will allow a fast and easy access to the plane, even in adverse weather conditions.  terraza2

The two level updating and remodeling project includes the expansion of 2200 sqm, so now it boasts a total area of 6600 sqm. The total investment for all airport works, including the investment in air bridges, amounts to 64 million soles. The airport has been enhanced both in its infrastructure and its equipment, with the installation of elevators and escalators in the terminal and a new lighting system that allows an optimal use of natural light. Inside the airport, the restrooms have been expanded to cater for people with disabilities. An additional 144 seats have been bought, totaling 250 seats; 9 new counters have been built for airline check-in with their corresponding scales; 120 luggage trucks have been purchased; and two latest technology Thyssen air bridges for passenger boarding have been installed.


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Miércoles, septiembre 25th, 2013

Eduardo Eurnekian had a meeting with President Cristina Fernández de Kirchner, during his stay in New York.

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Lunes, septiembre 23rd, 2013

Eduardo Eurnekian appointed UNDP Goodwill Ambassador

PDNU Eduardo-Eurnekian

For his key role in supporting sustainable development in Armenia, for his efforts aimed at reducing poverty, bridging regional disparities, creating jobs and improving the quality of services in the country, the United Nations Development Program (UNDP) in Armenia appointed Eduardo Eurnekian, a leading Argentine-Armenian businessman and one of the largest investors in Armenia, as its first National Goodwill Ambassador.

During its twenty-year presence in Armenia, the UNDP came to the firm conclusion that the Armenian Diaspora, with its vast networks and experience, can facilitate and strengthen the national social and economic development projects, thus contributing to the country’s overall development.

The partnership with Eurnekian and his Fruitfull Armenia Foundation (FAF) has a long history and it materialized in May 2012 when UNDP and FAF signed a participation agreement to support agricultural and micro-business activities in the communities of Baghramyan, Arevadasht, Artamet and Myasnikyan in the Armavir region. The partnership has the purpose of promoting the economic revitalization of the micro-region through the creation of farmers’ associations, the improvement of the economic rural infrastructure, the setting up of micro food processing facilities, and the return of non-cultivated arable lands into the sowing cycle.

The project, entitled “Armenian Village Revival: A Drive for Employment and Income Generation”, will cost $230,000, of which FAF will contribute $204,000. Eduardo Eurnekian enjoys a worldwide reputation. In August, 2012, in his capacity as Honorary Chairman of the International Raoul Wallenberg Foundation, he met the UN Secretary-General Ban Ki-moon. The UN praised him for his relentless effort to preserve and promote educational activities in the Foundation at world level. In May, 2012, he received the prestigious “Business for Peace – 2012” prize, awarded by a special commission, comprised also of Nobel Prize winners, to honor him for his business achievements, while acting in an ethically responsible way.

Eurnekian was recognized with the “Order of Saint Gregory the Illuminator” medal, received from the Armenian government (2001), “Man of the Year” award, granted by the Armenian General Benevolent Union in New York (2010), and the “Knight of Holy Etchmiadzin” medal, received from the Catholicos of All Armenians, His Holiness Karekin II (2011).

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Viernes, septiembre 13th, 2013

Eurnekian invests USD 10 million to launch a wine-themed gated community in Neuquén

Vista Viñedos

The project would comprise 36 lots with vineyards and space for the construction of houses in the lands of the NQN winery. Jointly with the Viola family, founder of Bodega Del Fin del Mundo winery, they will sell lots with vineyards at USD 350,000 in a development specially thought for wine loves. Both, know-how and sales channels will be offered.

NURIA REBÓN Buenos Aires. El Cronista

BodegaDel Fin del Mundo, owned by the entrepreneur Eduardo Eurnekian and its founder, the Viola family, has just launched the first real estate development involving vineyards in the region of Patagonia, where partners can make their own wines together with the company.

This way, the project Clos del Fin del Mundo, devised in the province of Neuquén, joins other wine-themed gated communities released since 2008 in the provinces of Mendoza and Salta, where lovers of the Argentine national drink can purchase lots between vineyards, build their own houses and have their own bottles.

“There are many who dream of being wine-producers, many celebrities have their own winery or their own wine. So, we decided to open up the winery’s doors to wine lovers, offering our know-how, making our agronomist and enologist available to those purchasing a lot with us and facilitating sales channels and contacts abroad. In a way, things that would be impossible to do alone without paying a large amount of money”, commented Julio Viola, president of Del Fin del Mundo and creator of the winery in 2003, in San Patricio del Chañar, Neuquén. In 2009, he became partners with Eduardo Eurnekian, in equal parts, and in January 2012 they bought the neighboring winery NQN.

The new project, located in a piece of land adjacent to the NQN and Del Fin del Mundo vineyards, consists of selling 36 lots measuring 3 ha each, of which 2.5 ha will have vineyards, whose planting is already underway. The rest of the land will be suited to build a house and its garden. An investment of USD 10 million is being made to develop this project, this amount includes the planting of vineyards, the facilities and common services (tennis courts, horse paths and stables, an organic farm and garden, and the like) and the extension of the wineries, as Del Fin del Mundo, with 9 million liters, and NQN, with 2 million, are working at full capacity. The premises already have an inn, which can be used for guests, a restaurant and lounges.

cc050913g019f05.jpg_53082678 “The price of each lot is USD 350,000, but we are offering a 10% discount to the first 10 lots sold. They are to be paid in Argentine pesos at the official exchange rate, with a reservation advance payment in the amount of USD 50,000; after this 50% of the value is completed and the remaining balance can be paid in installments for up to one year”, stated Mr. Viola.

“It is estimated that common maintenance fees will be USD 5,000 per year by hectare planted for the first years and USD 7,000 when the grapes are harvested. While the vineyards are growing, grapes can be bought from us. The idea is that these expenses can be covered with the selling of your own grapes or wines, which can bare your name, with the backing of Clos del Fin del Mundo below”, said the businessman. “And, if you wish, you may even have Michel Rolland blend your wine himself, at an extra charge, clearly”.

The partners did not trust the marketing and selling of the lots to a third party, instead, they decided to go over it themselves. “We want to know our potential buyers, see if they share our philosophy on wine. Besides, as they will work with us, will join us, if they want, to meet clients abroad or to visit wineries in regions such as Bordeaux, Napa or Toscana, it is important that we get to know them”, highlighted Mr. Viola, confident that the lots would be sold in less than a month. “We have just introduced the project and we have already sold four, two to investors from Neuquén and two from Buenos Aires”, he claimed.

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Lunes, septiembre 2nd, 2013

Eduardo Eurnekian is Armenia’s largest investor


The volume of foreign investments in Armenia in the first half of 2013 comprised $293.1 million, showing a 34.7-percent decrease as compared with the same period last year, National Statistical Service said.

Argentina replaced France as the largest foreign investor in Armenia with investments totaling $76 million. French investments fell about nine times over the year due to reduced investments of Orange Armenia.

Meanwhile, Argentinean investments have increased 10 times thanks to the projects of Eduardo Eurnekian. Most of Eurnekian’s investments focused on the development of air transport, less on agriculture and construction.

In 2013, investment from Cyprus increased approximately 30 times. They were aimed at the exploitation of deposits of metallic ores.

Russia is the leader in direct investments with $32 million this year. Russian investments are more diversified, although a large proportion falls on energy ($ 4.6 million), transport (10 million) and telecommunications (15 million).


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Martes, agosto 27th, 2013

Eduardo Eurnekian takes a leading role at the Council of the Americas


The Argentine entrepreneur took part in the Council of the Americas, held at Alvear Palace Hotel on August 22, jointly with Susan Segal, president of the Americas Society and Council of the Americas; Mauricio Macri, head of government of the city of Buenos Aires; national authorities and businessmen.

The president of Corporación América and vice president of the Argentine Chamber of Commerce delivered the closing ceremony speech expressing the following concepts:

“Mercosur needs to expand right away to quickly start the crucial Latin American integration process, a historical challenge to seal the Atlantic-Pacific unity.”

“International trade is positive for us all and should be promoted, as it is one of the few dispute-free concepts among economists.”

“The interaction with other countries has a deep impact on economic growth”

“Social support is an unavoidable element on the road towards a more developed society.”

“The key issue is to be able to wisely overcome the challenges posed by globalization and by technological progress.”

“Yesterday, we held frank and productive meetings with the national government, business leaders and the labor sector. This proves that the institutions of the country do work and are sensitive to the constitutional resources, since they are open to dialogue and to the construction of agreed-upon policies.”

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Jueves, agosto 15th, 2013

Eduardo Eurnekian, a man for the cause of mankind

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Viernes, julio 26th, 2013

A Big Bet on Nanotech in Argentina


 The Eurnekians want to turn Unitec Blue into the leading semiconductor manufacturing company in Latin America.

By Taos Turner | The Wall Street Journal

CHASCOMUS, Argentina—Built on the remains of a family textile plant in a town surrounded by open pastures and grazing cattle, a state-of-the-art semiconductor factory has begun operations here, about 130 km south of Buenos Aires.

The plant is capable of producing GSM cards for cellphones, smartcards for public transportation and microchips for Visa and MasterCard MA +1.56% credit cards.

Nanotechnology, which involves the manipulation of matter, such as microchips, in dimensions so small they are measured in billionths of a meter, is not highly developed in Argentina. But 28-year-old businessman Matías Gainza Eurnekian persuaded his billionaire uncle to invest USD 1.2 billion to try to change that.

Eduardo Eurnekian, 80 years old, has always had an eye for trends. He started out in the textile business as a young man but later traveled to the United States and saw that multimedia companies were sweeping the nation. When he got back to Argentina, he bought a fledgling cable-TV company that he later sold for USD 670 million. By 1998, he had built a media empire valued at nearly USD 1 billion.

image_gallerySo in May 2012, when the two Eurnekians met to discuss future ventures, the veteran business tycoon saw a big opportunity in nanotechnology and was ready to follow his nephew’s lead. “I started working that day on this,” said Mr. Gainza Eurnekian, “and I haven’t slept since.”

By February, the Eurnekians’ holding company, Corporación América, had built a state-of-the-art semiconductor factory. The plant imports the silicon wafers it uses to produce its semiconductors, but by the end of 2014 it will be making those too, turning it into the only integrated semiconductor factory of its kind in Latin America, according to the Eurnekians, and giving it a sales and distribution edge throughout the region.

“This was a big bet,” stated the young businessman. “Given the speed at which technology changes, we had to build the factory in 10 months for the business model to make sense.”

The Eurnekians aim to take their holding company public in two years time. Corporación América’s core business involves managing 51 airport concessions in Latin America and Europe. But the Eurnekians hope future growth will come from the technology industry. And their experience getting government contracts could help offset the challenges they face as newcomers in a highly competitive, globalized industry.

“Being a new company, they will actually be at a significant disadvantage,” said Len Jelinek, senior director and chief analyst for semiconductor manufacturing at IHS, a consulting company. “They have no proven historical performance record,” he said, “although they could work to get the company contracts that are driven by governmental or political influence.”

Being based in Argentina poses its own challenges, including high inflation, high annual wage increases, and burdensome import barriers. “If they cannot match or even beat the competition’s price, they will not be a long-term player,” Mr. Jelinek said. “This industry has always been about doing things cheaper every year. (…) They are attempting to do something extremely difficult.”

The family has already invested USD 300 million in its new business unit, called Unitec Blue, which plans to sell microchip products to companies and governments throughout Latin America and other regions. It recently started producing some of the mass-transit cards used by millions of commuters in Buenos Aires, and it plans to bid for contracts to provide drivers licenses in the United States. Its microchips can be integrated into a wide range of products, including high-tech passports and tracking devices for cattle, since cattle-raising is a key sector in Argentina.

Although their factory seems far away from the hustle and bustle of Buenos Aires, Mr. Gainza Eurnekian says its proximity to other Latin American countries is what matters. As the only commercial nanotech factory of its kind in the region, its location could give the company a sales and distribution edge.

Latin American banks and telecommunication companies, as well as municipal and federal governments, have been importing similar technology from Asia, Europe and the United States. Last year alone, Argentina imported 35 million GSM cards for mobile phones, said Diego Barletta, Unitec Blue’s sale director.

The company already has commercial deals—or is working on them—in Argentina, Brazil, Chile, Colombia, Ecuador, Paraguay and Peru. Altogether, Unitec Blue expects to produce around 1.5 billion microchips a year. Still, there are risks, Mr. Gainza Eurnekian noted. Technology trends change almost overnight, and demand for expensive new production equipment will force the company to continually reinvest. “In three to four years all of these machines will be worthless,” he said, pointing to USD 250 million in imported manufacturing equipment.

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Jueves, julio 11th, 2013

Corporación América obtains its second airport in Italy

Corporacion America

Milan Linate is added to the list of 51 airport terminals that the group operates in Argentina and in the world

Corporación América, the holding run by Argentine businessman Eduardo Eurnekian, purchased ATA, the Italian concessionaire which has been operating the general aviation airport of Milano Linate.

This operation allows the Eurnekian group to undertake the management of a second airport in Italy, in addition to that of Trapani, in Sicily, whose concession was awarded back in 2007.

The Milano Linate airport is Europe’s third airport in terms of number of private flights. Corporación América plans to invest 20 million euros over the next 5 years for the renovation and expansion of this Milan airport; a program that includes the construction of a new hangar in preparation for Expo Milano 2015.

Buenos Aires, 8 July 2013

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Jueves, julio 11th, 2013

Argentina’s Corporación América was granted the management of Milan Linate Airport

Corporacion America

BUENOS AIRES, 8 July (Reuters) – The Argentine group Corporación América, operator of 51 airport terminals worldwide, stated on Monday that it has been selected to manage the executive flights terminal of Linate, the domestic airport of the Italian city of Milan.

Corporación América will replace the Italian company ATA, which is in bankruptcy proceedings, in a move that will grant it a second airport in Italy, where since 2007 it has operated the Trapani airport, serving eastern Sicily.

“We have been announced as the winners of the selling process”, told Martín Eurnekian to Reuters. He is director of Corporación América and is in charge of the operation of the group of airports outside Argentina.

“The Milano Linate airport is Europe’s third airport in terms of number of private flights. Corporación América plans to invest 20 million euros over the next five years for the renovation and expansion of this airport”, explained the Argentine group in a press release.

Corporación América operates airports in Argentina, Italy, Uruguay, Peru, Ecuador, Brazil and Armenia.

Eurnekian said that the group is looking to expand, particularly in Brazil where with its local partner, the Engevix construction company, it operates the airports of Brasilia and Natal through the Inframérica consortium. (Report by Guido Nejamkis; Edition by Javier López de Lérida)

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Viernes, junio 28th, 2013

Zvartnots recognized as Center of Excellence for the Protection of Workers’ Health and Safety



Zvartnots Airport was recognized as a Center of Excellence for the protection of employees’ health and safety at their workplace.


The award was organized by the Ministry of Labor, the National Union of Employers and the Confederation of Trade Unions.


The other three winning companies -all of Armenian origin- were car battery manufacturer Elbat, construction company Filishin and glass manufacturer Glass World Company. 




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Viernes, junio 7th, 2013

Bodega del Fin del Mundo, owned by the Eurnekian and Viola families, celebrates its tenth anniversary




Last 10th May, Bodega Del Fin Del Mundo celebrated its 10 year anniversary in the heart of its vineyards, located in San Patricio del Chañar, Province of Neuquén.


The winery was founded back in 1996, when businessman Julio Viola purchased 3,200 ha of land in San Patricio del Chañar. In 2009, the Eurnekian family became a partner in this project, which was the kick-off to enter the wine-making business in Argentina.


The partnership of these two families resulted in a project to expand into new markets and deliver rich quality wines from Patagonia to all corners of the world. This was also the first step to later go beyond the national borders and reach Armenia with Armavir Vineyards.


Currently, Bodega Del Fin Del Mundo has 870 ha of vineyards with a total capacity of 8 million litres. It is equipped with 250 stainless-steel tanks with temperature control for fermentation, 100 concrete pools for wine preservation, 2500 French and American oak barrels and 6 French oak casks of 6 thousand litres with temperature control.


BodegaDel Fin Del Mundo sells its wines all over the Argentine territory and exports them to more than 33 destinations. It has been awarded over 200 prizes in the most important international contests, which speaks of its quality. As part of its innovative strategy, in 2010 it created Experiencia Del Fin Del Mundo, a space opened for the people of Buenos Aires where gastronomy and all activities are centered in the wine world.


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Viernes, junio 7th, 2013

Coporación América seeks further airport concessions in Brazil

Corporacion America

* Corporación América is seeking to add a partner in Brazil, to take part in new airport tenders.

* The company ensures that the airport it operates in Brasilia will be completed in time and form, before the 2014 FIFA World Cup.

* It will invest USD 1.2bn in a semiconductor plant in Argentina, to later take the business to Brazil.

By Guido Nejamkis

BUENOS AIRES, 23 May (Reuters) – The Argentine company, Corporación América, is holding “advanced” talks with a new partner to participate in the upcoming airport tenders of Rio de Janeiro and Belo Horizonte, stated the holding’s president, Eduardo Eurnekian, last Thursday.

This new partner would enter the partnership formed by Corporación América and the Brazilian construction company Engevix in the airports that it already operates in Brasilia and Natal. This incorporation is required in order to address new demands from the Brazilian Government for the future air terminal bids, claimed Eurnekian at the Reuters Forum on Investment in Latin America.

Brazil’s Government is planning a call for tenders of the international airports of Rio de Janeiro and Belo Horizonte, Galeao and Confins, for September.

“In this new call for bids, Brazilian authorities have become more demanding. It seems they want (…) to broaden the scope of companies approaching the business”, explained the businessman, in reference to the fact that the Brazilian Government would like to see new players entering the airport market.

“Indeed, we are interested (in taking part). And we will try to adapt to all new demands. Not only in Belo Horizonte, but also in Rio”, added Mr Eurnekian.

To this respect, the businessman said that the consortium he will create to bid for Galeao and Confins “would be the same, but we would need to include another partner to meet the requirements, the new bidding demands. There are advanced talks with another partner”.

Last Wednesday, a top Brazilian official announced that the conditions for the operations of air terminals will be disclosed the following week.

Eurnekian, head of a company that operates almost 50 airports in Argentina, Brazil, Uruguay, Peru, Ecuador, Italy and Armenia, assured he will comply in “time and form” with the contracts for the upgrading of the airport of Brasilia, Brazil’s capital, before the 2014 FIFA World Cup.

As for the progress in these works, commenced by the Inframérica consortium after the start of operations in Brasilia this year, Eurnekian stated that “it is reasonable, highly reasonable” that the Government wants the works to advance at a faster pace, “especially when what is at stake is the country’s standing as an international events organizer, in this case of the football world cup”.

To this respect he explained that, “as it happens anywhere”, the authorities took time to call for bids and “the controlling agencies have to comply with their function and (…) all that which, in turn, brings about more anxiety.  But we are aware of this situation and I believe we will complete the work in time and manner. I do not think there will be any issues.”

Eurnekian said that once the upgrading works in the airports of Brasilia and Natal, in the Northeast of Brazil, are completed, Corporación América will go public.


The company also plans to participate in airport bids in Greece and Turkey, stated Eurnekian, an 80 year old Armenian-descent executive.

Corporación América, with global consolidated revenues of around USD 2bn per year, is a diversified group also engaged in the sectors of finance, agriculture, nanotechnology, energy and winemaking.

In effect, its nanotechnology unit, UnitecBlue, will officially open in June a semiconductor plant in Argentina, which required a USD 300 million investment and in which USD 900 million more will be invested until 2016.

“We are trying to find as suitable partner, with the objective of generating this same investment in Brazil”, said Eurnekian, in reference to UnitecBlue

Source: Reuters news agency newswire.

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Viernes, junio 7th, 2013

UnitecBlue Opens Country’s First Chip Plant


UnitecBlue, the technology business unit of holding company Corporación América, yesterday inaugurated in Chascomús the first plant especially designed for chip production, with a production capacity of 1.15bn semiconductors a year.

With an investment amounting to USD 1.2bn, the initiative, led by Eduardo Eurnekian, was exclusively financed by Corporación América’s own capital. “We will position ourselves internationally with 100% of our own capital, local raw material and highly skilled human resources”, stated UnitecBlue’s president, Matías Gainza Eurnekian.

The company of the group Corporación América invested USD 250 million in a first stage, 50% of which was allocated to the import of capital goods from Germany and the US. This percentage is highly significant for the Argentine economy, given that it accounts for 1.7% of the total value of imports expected for this year. In a second stage, the objective is to produce our own integrated circuits.

Matías Gainza Eurnekian explained that “Companies in Argentina imported $980m-worth of chips in 2012 and that figure is expected to grow to $1.3bn this year. Brazil’s market is seven times larger than ours. We expect to compete at regional level, a market which is worth USD 17bn, in which we gain a lot in the logistics.”

The factory was built in 11 months, on the 9ha site of the former textile factory Uzal. In this facility, 250 people work conducting the microchips manufacturing process to supply the market of smart devices such as rechargeable passes for public transport, mobile phones, bank cards and passports, among others.UnitecBlue3

The fully developed plan intends to span the whole production chain: from extraction of silica sand to manufacture the wafers from which chips are cut, to production of the sophisticated microchips.

Mr Gainza Eurnekian also explained that he expects to supply chips to the producers in Brazil for smart cards and to the US for passports chips.

“Many times, the design of the intellectual property is our own; other times it belongs to the clients and we produce under existing patents provided by them. For this purpose, we have a specific development department,” and he added that: “it is South America’s first plant of this nature and only 7 plants in the world share its unique features”. In relation to this, he explained that: “the most important thing is that with this work, Argentina will be positioned in the international development market”.

In turn, the president of Corporación América, Eduardo Eurnekian asserted that: “this plant has not only been installed with capital investment, but with the effort of all those who have worked in the project, as well as with the investors that joined us throughout its execution process, because they decided, as we did, to commit to the future of Argentina”.

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Jueves, mayo 30th, 2013

Argentine pioneer spies technical niche in semiconductors


Eduardo Eurnekian

By Jude Webber in Chascomús (Financial Times)

Workers in white coats and protective shoe covers pad across the duck-egg blue floor of a gleaming new facility built on the site of a former textile factory.

The machines purr rather than roar and it feels more like a sterile hospital than an important part of a 21st century industrial revolution for Latin America.

But Eduardo Eurnekian, one of Argentina’s most successful businessmen whose Corporación América runs 49 airports in seven Latin American and European countries, has spied what he sees as a new niche: semiconductors.

He is planning to invest $1.2bn into an operation that will initially produce chips for smart cards, such as rechargeable travel passes, as well as for mobile phones, bank cards and passports. But in time, the plan is to span the whole production chain: from extraction of silica sand, to manufacture of the silicon wafers from which chips are cut, to production of the sophisticated microchips themselves.

None of the technology is itself new – indeed, the factory, located in Chascomús, 120km (75 miles) south of Buenos Aires, will produce transistors, the “building blocks” of chips, spaced between 350 to 90 nanometres apart. Chips that form the digital brain of the latest gadgets, such as the iPad, are built with transistors spaced just 40nm apart and therefore much more powerful. Industry leaders, such as Intel, are building chips with transistors spaced 22nm apart.

But the company, Unitec Blue, is billing itself as a Latin American semiconductor pioneer, capable of supplying chips competitively to the region that are suited to a broad range of industrial applications that do not require the most cutting-edge technology.

“We’re not reinventing the wheel here,” acknowledges Matías Gainza Eurnekian, Mr Eurnekian’s 27-year-old nephew and a former yachting world champion who is chief executive of Unitec Blue. For him, it’s not about producing more cheaply than Asia – something experts say would be impossible – but competing in things such as delivery time.

He currently buys silicon wafers from abroad that already contain some chips and further processes it. In a second phase, Unitec plans to take wafers and produce the integrated circuits themselves. “Many times, the design of the intellectual property is our own; other times it belongs to the clients and we produce under existing patents provided by them. We have a department of development for clients,” Mr Gainza Eurnekian said.


Companies in Argentina imported $980m-worth of chips in 2012 and that figure is expected to grow to $1.3bn this year, says Mr Gainza Eurnekian, adding that Brazil’s market is seven times larger. Meanwhile, the regional market from “south of Mexico down”, where Unitec hopes to compete, is worth $17bn, he says. “I can gain a lot in the logistics.”

Mr Gainza Eurnekian expects to supply chips to the producers in Brazil of finished products, such as a card with a chip inside, and is also eyeing contracts to supply passport chips to the US government.

Brazil has struggled for years to get a semiconductor industry up and running, but is also pitching hard to become a leading regional semiconductor producer. It already has a small-scale semiconductor manufacturer in Ceitec. Meanwhile, IBM and Brazilian billionaire Eike Batista’s EBX are also planning a joint-venture chip company

But Unitec is marketing itself aggressively as a pioneer and Mr Gainza Eurnekian says: “There’s no plant [in the region] that can compete.”

“I think there is room for a regional player because all of these foundries are not located in Latin America,” agreed Samuel Tuan Wang, research vice-president at Gartner, a technology consultancy. Most contract semiconductor manufacturers are found in Asia and the US, with the global industry dominated by Taiwan’s TSMC.

In Latin America, technology producer Intel owns a plant in Costa Rica, but it does not contract out its use to other chip companies.

Setting up Unitec Blue in Argentina, was not, however, without hurdles: Argentine import restrictions held up the delivery of the necessary machinery from Germany.

Now’s the time to invest in Argentina. Assets are cheap

- Eduardo Eurnekian, Argentine businessman

But import controls imposed by a protectionist-minded government seeking to spur local manufacturing could give Argentina a leg-up in developing microchip design and “deepening Argentina’s technological possibilities”, said Pedro Julián, an expert on the industry and professor at Argentina’s Universidad Nacional del Sur, who is working on a microchip design project and says a Unitec foundry could be “very complementary”.

“They’re moving into a segment in which we could use regional scale,” he added.

The venture, due for its official inauguration by Cristina Fernández, Agentina’s president, on June 4, is entirely funded by Corporación América’s own capital. “Now’s the time to invest in Argentina,” says Mr Eurnekian. “Assets are cheap.”

Argentina is blighted by inflation running at an estimated 24 per cent a year and foreign currency controls that have spooked other investors, including Brazil’s Vale, prompting it to dump a $6bn potash project.

But for Mr Eurnekian, the equation was simple. “I try to investigate niches where there is potential,” he says.

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Jueves, mayo 30th, 2013

Eurnekian Investing $1.2 Billion in Chip Technology


By Daniel Cancel (Bloomberg)

Argentine businessman Eduardo Eurnekian is investing $1.2 billion in a chip plant south of Buenos Aires to tap a growing market in Latin America for credit cards, mobile phones and electronic identification.

The manufacturer, known as Unitec Blue, began production in February after an initial investment of $300 million with an output capacity of 1.2 billion chips a year, which will double by the end of 2016, according to its president Matias Gainza Eurnekian, Eduardo Eurnekian’s nephew.

Eurnekian, who is worth at least $1.3 billion, is expanding in Argentina at a time when currency controls, 24 percent annual inflation and import restrictions are deterring investment there. In the World Economic Forum’s global competitiveness ranking, the country slipped nine spots to number 94 of 144 economies for the 2012-2013 period. Earlier this year, Eurnekian’s Corporacion America holding company bought 81 percent of Argentine oil company Cia. General de Combustibles for $200 million.

“Corporacion America is the most aggressive investor in the country right now,” Gainza Eurnekian, 28, said during a May 23 tour of the 10,000 square meter (108,000 square feet) plant in Chascomus, 120 kilometers (75 miles) from the capital. “This is a long-term project so we don’t let current politics affect our strategy. We like to invest in Argentina because we’re Argentine.”

Foreign Investment

Vale SA, the world’s third-most valuable miner, abandoned a $6 billion potash project in Argentina’s Mendoza province in March after it failed to secure tax breaks and attract partners, saying the cost of the project had almost doubled. Brazilian meat producer Marfrig Alimentos SA (MRFG3) plans to close two beef plants it operates in Argentina as part of a strategy to cut costs, chief executive officer Sergio Rial said May 14.

Argentina, Latin America’s third-largest economy, was fifth in foreign direct investment in the region last year, trailing smaller economies such as Chile and Colombia, according to the United Nations.

Corporacion America operates 50 airports worldwide through Aeropuertos Argentina 2000. The holding also owns the Fin del Mundo winery in western Argentina, a construction company, and a postal service and bank in Armenia, where Eurnekian’s family originated.

Through CGC, the group has stakes in gas pipelines and oil fields in Argentina and Venezuela. Eurnekian, 80, is also working to partner with state-run YPF SA to develop shale deposits at Vaca Muerta, which may hold the world’s second-largest shale oil deposits after the U.S.

Corporacion America has annual sales of about $2 billion, according to Carolina Barros, a company spokeswoman.

Regional Growth

Latin America and the Caribbean is forecast to expand 3.4 percent this year, compared with growth of 0.3 percent in Europe and 1.9 percent in the U.S., according to the International Monetary Fund. Demand for SIM cards for mobile phones, which Unitec Blue produces, is surging in the region as 81 percent of mobile phone subscriptions in Latin America are prepaid, according to the World Bank.

Unitec Blue is already manufacturing credit cards for Visa Inc. and Mastercard Inc. (MA) in Argentina and neighboring countries, while providing transport cards for regional governments in Brazil, according to Gainza Eurnekian. The company is providing chips and lamination for the SUBE transport card for the Buenos Aires metro, rail and bus network and is bidding for similar contracts in Brazil, he said.

The plant, which employs 155 people and took 10 months to build, will also produce solar energy panels and LED technology, a semiconductor light source. The project is being financed with Corporacion America’s cash.

“We’re financing it all ourselves, because the time it took us to build the plant, is how long it would have taken to negotiate a loan with banks,” Gainza Eurnekian said. “This is a high-risk project with a large investment and a need for quick returns to continue growing.”

To contact the reporter on this story: Daniel Cancel in Buenos Aires at

To contact the editor responsible for this story: Adriana Arai at

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Viernes, mayo 24th, 2013

Unitec Blue became a Member of CEADS


UNITEC BLUE’s business policy is aimed at excellence and quality in the production and research of semiconductors and integrated circuits in Argentina, incorporating the aspects of sustainability as a form of management that optimizes the connection with its interest groups.

With this concept, since early May the company has become an active member of CEADS, an organization which promotes and communicates the principles of sustainability.

The Consejo Empresario Argentino para el Desarrollo Sostenible (CEADS, Argentine Business Council for Sustainable Development) is the local chapter of the World Business Council for Sustainable Development (WBCSD) a global association led by the CEOs of over 230 companies, entirely devoted to the connection between companies and sustainable development.

CEADS has the following objectives:

1- Become a business leader in the promotion of sustainable development.

2- Take part in public policy management in order to create the appropriate environmental conditions for an effective contribution to development.

3- Develop and promote the business case, showing what is done and what is said.

4- Demonstrate the business contribution to sustainable solutions and share cutting-edge tools among its members.

5- Contribute to a sustainable future for transition and developing countries.

This way, UNITEC BLUE expressly commits to sustainable development, which implies the gradual adoption of best practices in terms of environmental care and corporate social responsibility, assuring the integration of sustainability into business management.

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Miércoles, abril 24th, 2013

Eduardo Eurnekian: “The country’s assets are inexpensive and the skilled workforce offer is wide”

Unitec Blue, a company owned by Eduardo Eurnekian, is opening its manufacturing plant for smart card semiconductors in June, with an investment of USD 1200 billion.

In a statement to the Brazilian financial newspaper Valor, the head of Corporación América referred to what it means to produce in the country a silicon disk featuring high purity and extreme thinness, which represents the most expensive part of a chip.

In the interview, he stated: “I would never commit to such a significant investment on the basis of changes in politics.”

Corporacion AmericaOn 4 June, president Cristina Kirchner is expected to attend the factory’s opening ceremony in Chascomús.

“The production will enjoy tax subsidies, and will not have any subsidies on energy”, explained the businessman.

The plant in Chascomús was set up in the old premises of the Group’s textile unit and in record time: only 11 months.

It will have a capacity to produce 2 trillion chips a year. Based on reports from the businessman’s nephew and responsible for the Group’s IT area, Matías Gainza Eurnekian, the undertaking is financed exclusively with company-owned capital.

“The recovery of investment may take from 5 to 25 years. It is not easy to talk about capitalization in an investment that requires constant flow. Within 10 years, there will not be a single machine that has not been changed in this factory,” he assured.

On the contrary, Mr. Eurnekian affirmed that he decided to make this investment last year, “because it is the perfect time to increase investment in Argentina.”

The factory will represent an investment of USD1200 billion. On a first stage, USD 250 million were invested, 50% of which relate to the import of capital goods from Germany and the USA. This last value is highly significant for the Argentine economy, as it represents approximately 1.7% of the total import expected for this year.

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Jueves, abril 11th, 2013

Eduardo Eurnekian at the opening of Terminal B in Ezeiza

With an investment of AR$ 570 million, Aeropuertos Argentina 2000 opened today one of the most important infrastructure works in the region.
The event was attended by the president of Argentina, Cristina Fernández de Kirchner; the minister of the interior and transport, Florencio Randazzo; the minister of tourism, Enrique Meyer and Mariano Recalde, head of Aerolíneas Argentinas. Those also present were the mayor of Ezeiza, Alejandro Granados; the presidents of Orsna, Gustavo Lipovich and of ANAC, Alejandro Granados; the head of Corporación América, Eduardo Eurnekian; the president and CEO of Aeropuertos Argentina 2000, Rafael Bielsa and Fernando Peláez, respectively.
In her speech, the head of the country highlighted the growth in passenger traffic recorded in 2012, which reached 24 million. “The growth of tourism, of the nation, the construction of these modern premises could only be possible in a country which has thrived, as Argentina has, as the region has, because most of the tourists come from Brazil, from Chile and from the rest of America.”
“This is why -she added- we want to thank Aeropuertos Argentina 2000 for its commitment and its investment in these works. This airport is at par with the best airports in the world. New jetways were installed and we still have many important projects to keep on growing”, she stated.
In turn, Eduardo Eurnekian, pointed out that in 2013 the company will turn 15 years and since 1998 “it has invested over AR$ 7300 billion in the 33 airports under its management. We are talking about hundreds of thousands of square meters in passenger terminals”.
“Since the concession started, the company has transferred the National State over AR$ 4200 billion as Specific Allocation of Income, known as tax”, he explained.
The businessman indicated that the company went from hiring 634 employees in 1998, to having a staff of 2108 workers in the end of 2012. “In other words, we are talking about job creation and workers’ rights strengthening.”
The construction of the new Terminal B required the efforts of over 1000 workers during the 17 months of construction. Equipped with cutting edge technology, it doubles the operational capacity of Ezeiza International Airport and brings it up to the most modern in Latin America.
The new Terminal B will now have a platform of 42,300sqm, five boarding bridges, a terminal of 28,795sqm covered area, 720sqm for shops and food services, 20 check-in counters, 34 immigration counters and 376 additional parking spaces. For passenger comfort it has 5,391sqm of international pre-boarding, an arrivals hall of 2,290sqm and 200sqm of VIP lounges.
The building boasts large glazed areas for energy efficiency while offering outstanding panoramic views of the outside. Likewise, the modern and functional design divides the passenger flow into four levels to better organize the arrivals and departures and ensure an improved passenger flow inside the airport.
On the third level, there are six modern VIP lounges and three mechanical runways that offer higher comfort for passenger transfer.
This inauguration represents a step forward in the challenging plan that is being developed at the Argentine airport with the highest number of passengers and operations. This way, Ezeiza has more security, more infrastructure, and more services with state-of-the-art technology.
Once the mega-project is complete, Ezeiza will have a capacity to handle 13 million passengers a year and carry out 90,000 operations over the same period. Besides, it will have a 186,000sqm platform, 21 telescopic runways, 4,800 vehicle parking spaces and 200 check-in counters. It will have a capacity to handle 4,000 passengers at rush hour thus meeting the short and long term demand.
One of the main features of the project is its division into stages. In this sense, the work was organized in steps, so that the airport can keep on working without compromising the service quality. The work at Terminal B started on 10 July 2011, one day after the opening of Terminal C, which was named Mercedes Sosa.

New Terminal B
Investment: AR$ 570 million
17 months
1,000 workers
42,300sqm platform,
5 new boarding bridges,
28,795sqm covered terminal,
5,391sqm international pre-boarding,
2,290sqm arrivals hall,
720sqm for shops and food services,
34 immigration counters,
20 check-in counters,
376 new parking spaces,
200sqm of VIP lounges.

Conference Room Malvinas Argentinas
Investment: AR$ 10 million,
700sqm covered area,
Cutting edge technical equipment,
Adjoining VIP lounges for lecturers,
Simultaneous interpreting booths.

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Jueves, marzo 21st, 2013

A new prestigious architecture award for Aeropuerto de Carrasco


Ever since its opening back in 2009, the new terminal of Aeropuerto de Carrasco -work designed by the renowned architect Rafael Viñoly- has received a number of awards at international level, which have placed the airport at par with the best airports worldwide.

This time, an American publication and website specialized in architecture, nominated the Airport of Carrasco, together with two other Air Terminals (Bodrum in Turkey and Terminal II in San Francisco), to be distinguished as the best work in the International Airports category.

The jury, made up of 200 professionals from the world of architecture and design selected the most outstanding buildings in 50 categories, which include a variety of constructions: homes, museums, schools, offices, among others.

Once the finalists had been chosen, the jury of experts was not the only one to vote, the general public was also able to express their vote through the official website.

Last March 8, the website voting period concluded and the winners of the different categories were announced on March 19.

The Aeropuerto de Carrasco is much more than an Air Terminal; it is a place of exchange that combines service, avant-garde, engineering, architecture and technology. Its election as the winning architectural work is an honor for us, and motivates us to keep on excelling ourselves day after day.

To view the full list of winners visit:


  • NEW TERMINAL – Operational opening: 29 December 2009.
  • Investment: 165 million dollars.
  • Capacity to handle up to 4 million passengers a year.
  • Terminal area: 45,000 square meters.
  • The roof has an overall area of around 4 hectares (40,000 square meters).
  • Platform area: 110,000 square meters.
  • Extensive and surrounding leaning glazing of 8.000 square meters.
  • Parking and roadways area: 40,000 square meters.
  • 8 gates for simultaneous boarding both remote and fixed.
  • 4 telescopic air bridges.
  • 44 check-in positions.
  • 24 migration booths.
  • 1.200 parking spaces.
  • Term of construction: 3 years – January 2007 to December 2009.


Due to the refined and cutting-edge design of the renowned Uruguayan architect, Rafael Viñoly, the Airport Terminal of Carrasco -be it from the air or from the access road- inspires the most intense emotions and forms of flattery.

The construction itself comprises an area of over 45,000 square meters, featuring a triple curved roof of 400 m that spans all along the length of the building, with a total area of around 4 hectares (40,000 square meters). This curved design was inspired in the typical dunes of the coast of Rocha, a delightful corner of Uruguay and the favorite spot for those who seek to relax and connect with nature.

One of the main objectives of the work was its functionality; providing comfort to passengers and visitors alike. This is why the Terminal has two separate and independent levels, one for departures and one for arrivals, so that both flows run separately.

As part of its opening up to the world, the Airport allows for intercontinental flight operations. With capacity to receive up to 4 million passengers a year, the new Terminal is capable of sheltering any aircraft, from a small plane as the CRJ 900 to the stunning AIRBUS 380.

At the level of the largest airports in the world, the New Terminal has 8 boarding gates, 4 of which have telescopic bridges that ensure the safety and comfort that all passengers deserve. The centralized information handling, the flight data management, the full plasma TV circuit and the CUTE system -that optimizes the check-in process, are only some examples of the Airport’s operative efficiency and state-of-the-art technology.

The system of baggage handling through automated conveyor belts, the strict controls with X-ray technology and the constant monitoring of every detail in terms of safety and security, allows the Airport of Carrasco to provide the guarantees entailed in the accomplishment of the highest demands at international level, which translates into committed work, and peace of mind for all its users.

Based on the traditional Uruguayan custom, well-expressed in the words of Mr. Rafael Viñoly: “In Uruguay, friends and family still come to greet you at the airport or see you off”, the Lookout Terrace on the third floor has been specially designed as a place of relax and recreation for passengers and visitors.

With the aim of motivating feelings of spaciousness and brightness, the Airport’s Terrace presents a large and beautiful glazed structure through which sun rays seep in, which, combined with the green spaces, brings about a superb experience of waiting or relaxation in a natural environment.

This sector has a privileged view, and was also conceived as an entertainment center and a setting for the development of cultural, recreational and social activities, so that the airport is seen as a place where people would like to stay, rather than as a place of transit. It also features an extensive and surrounding leaning glazing of 8.000 square meters overlooking the platform and runways, where take-offs and landings can be enjoyed from the first row.

The Aeropuerto de Carrasco is much more than an Air Terminal. Its visitors can find a wide variety of stores, such as car rental agencies, currency exchange counters, local food and fast food restaurants and clothes, decor and beauty shops. Likewise, it also offers 2,400 square meters of design, trends and exclusive products in the most complete and luxurious Duty Free Shops in the region.

Aeropuertos VIP Club

The best VIP Lounges in Latin America are located at Aeropuerto de Carrasco. Their installations, decorated with avant-garde furniture, were created so that each passenger can enjoy all their amenities before and after the flight. At Aeropuertos VIP Club visitors find first class services to meet all needs: Fast Pass, VIP Check-in, Baggage Service, Valet Parking, roofed parking, Catering, Relax Lounge, Business Center and Premium Cabs, among other exclusive services.

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Miércoles, febrero 6th, 2013

Corporación América received an award for the Zvartnots airport terminal in Armenia

Zvartnots International Airport was named best airport of Russia, the Commonwealth of Independent States (CIS) and the Baltic States, in the context of the 2nd Annual Airports Conference and Exhibition held in Dubai on 30 January.

The terminal, operated by the Argentine company Corporación América, was named the best Emerging Airport based on its quality service and infrastructure, selected among over 20 nominates in different categories. The prize was revealed during the Conference ceremony; one month after the nomination was announced.

The award was received by Marcelo Wende, General Manager of the airport and by Marcelo Minoliti, Infrastructure Director of Aeropuertos Argentina 2000. The company Arabian Reach was in charge of handing in the Emerging Markets Airports Award (EMAA).

Zvartnots International Airport in Yerevan, Armenia, which was opened on 16 September 2011, is strategically located between Europe and the East. It has turned into a regional HUB with capacity to operate over 3 million passengers a year.

The two terminals that comprise the air station have anti-seismic technology, smart thermal and lighting control and the application of technology in security and passenger services. All this brings the airport to the highest standards required by international airport organizations.

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Viernes, enero 18th, 2013

“Zvartnots” international airport in the Structural Engineering magazine

The Structural Engineering magazine published an article about received “Engineer Jose Luis Delpini award to remarkable structure corresponding to 2011-2012, as a recognition to the worked carried out “Zvartnots” international airport in Armenia: IE-PREMIO-DELPINI-EVN

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Miércoles, noviembre 7th, 2012

Eduardo Eurnekian: “We’re very comfortable in the airport activity”

Corporación América is one of the companies bidding for Aeroportos de Portugal (ANA). There follows an exclusive interview with Eduardo Eurnekian for Negocios da Semana of SIC Television, one of Portugal’s most popular economy programmes.

Eduardo Eurnekian talks about his company’s expertise in airport concessions, after 15 years of performing this activity in Argentina and the operation of 51 airports around the world.

“Our experience gives us great confidence with which to face the Portuguese proposal”, explains Mr. Eurnekian, “because Portugal will also privatize its airport system and, in some way, we are the only ones who have the right experience in handling a group of airports in a country that has the number of passengers we have in Argentina and also in Peru (6 airports).”

“We’re very comfortable in this activity; we do not only manage but also plan, build airports. Within the last 10 years we built 8/10 airports, and I dare say we must be one of the companies which have built more airport terminals in the whole world.

“From my viewpoint, Portugal is a jewel in Europe, it is a tourism-oriented country with a similar language to the one spoken in Argentina, and a close relation with our country through the Iberian Peninsula. We honestly believe that the tourism industry will be greatly developed in this country. After this stage of the European crisis, which is a crisis of change and adaptation, tourism will simply boost.”

He also referred to the development of the tunnel that will link Chile and Argentina, the Bioceánico Aconcagua corridor. “This construction work seems to be and will surely be magnificent, as it poses an extraordinary advantage since it has strategic importance, will develop trade and will connect the Atlantic and the Pacific.”

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Martes, octubre 30th, 2012

Relatives of the Fallen Soldiers in Malvinas recognized Eurnekian for his Commitment and Generosity

Buenos Aires, 30 October 2012 – Today, the Comisión de Familiares de Caídos en Malvinas (Commission of Relatives of the Fallen Soldiers in Malvinas) recognized Mr. Eduardo Eurnekian for having donated the Darwin Cemetery Cenotaph in the islands.

In a moving ceremony, held in General San Martín square, Eurnekian stressed: “I want to pay homage to those soldiers who died in the defense of our islands and in particular to you, who have devoted the last 30 years not only to remembering them, but also to keeping the flame of sovereignty alive. You can count on us for such task. Let me also express my gratitude to those families who gave birth to these brave young men”.

While handing over the statuette, the president of the Commission, Delmira de Cao, thanked the businessman and expressed: “Mr. Eduardo Eurnekian, all this has been made possible through your generosity and courage. We will never forget that. And the next generations of Argentines will always remember you”.

Deeply touched, she added: “It is worth mentioning that we didn’t come to you asking for your support, you came to us, aware of our loneliness, to materialize the tribute we had been pursuing for so long.”

In 2009, Eurnekian donated the cenotaph located at a distance of almost two hours from Puerto Argentino, in the Malvinas Islands. This marks a milestone in the life of the families of the soldiers fallen in the Malvinas conflict, who visit the memorial every year. Besides, the businessman is in constant contact with the Commission to ensure that the construction is in good maintenance conditions.

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Jueves, octubre 25th, 2012

Tribute to Raoul Wallenberg in the city of La Plata

La Plata, 23 October 2012 – A commemorative bust of Wallenberg, installed opposite the Teatro Argentino in La Plata, was unveiled.

The bust of the Swedish hero, who saved thousands of Hungarian-Jewish lives during World War II, was revealed in the presence of Eduardo Eurnekian and Baruj Tenenbaum, president and founder -respectively- of the International Raoul Wallenberg Foundation, and of Oscar Pablo Bruera, Mayor of this city,

Eurnekian stated, “it is my deep desire that this commemorative piece of one of the greatest heroes in modern history, be kept as an enduring symbol of the deeds of those who hold out their helping hand to others in need.”

The city Mayor expressed he was filled with joy of having this magnificent work of bronze which honors a person who revalues solidarity and peace.

The tribute ceremony, celebrated in the year of the 100th anniversary of his birth, was also attended by the Swedish Ambassador Charlotte Wrangberg and the Israeli Ambassador Dorit Shavit.

The work is a 75cm-high piece of bronze made by the Argentine artist Gerónimo Villalba and was donated by the Foundation.

The event took place today at 4:30pm in the intersection of streets 51 and 10.

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Viernes, octubre 12th, 2012

Eurnekian received the 2012 Business Executive Award

Yesterday, the President of Corporación América, Mr. Eduardo Eurnekian, received the 2012 Business Executive Award granted by the Association of Business Executives (ADE), within the celebration of the 70th anniversary of the entity.

Together with Mr. Eurnekian, those also honored by ADE were Paolo Rocca (Grupo Techint), Carlos Rottenberg (Multiteatro), Carlos García (Garbarino) and Efrain Szuchet (Diaser).

“I am flattered to have been chosen by this prestigious institution, which has been fostering investment, company development and professional training for 70 years now”, stated the head of Corporación América upon receiving his prize.

The ceremony took place at the Sofitel Hotel yesterday evening, and was attended by important personalities, businessmen and experts of the financial and political world.

Since 1998, the Association of Business Executives (ADE) has been granting the “Business Executive Award” to prominent figures who stand out in the professional performance of their respective work fields.

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Viernes, octubre 5th, 2012

Eurnekian will receive the Business Executive Award

The President of Corporación América, Mr. Eduardo Eurnekian, will receive the Business Executive Award granted by the Association of Business Executives (ADE), next Wednesday 10 October.

The award giving ceremony will be take place at 7pm at the Sofitel Hotel, located in Arroyo 841.

Together with Mr. Eurnekian, those also honored by ADE, will be Paolo Rocca (Grupo Techint), Carlos Rottenberg (Multiteatro), Carlos García (Garbarino S.A.) and Efrain Szuchet (Diaser S.A.).

Since 1998, the Association of Business Executives (ADE) has been granting the “Business Executive Award” to prominent figures who stand out in the professional performance of their respective work fields.

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Martes, septiembre 11th, 2012

Corporación América recognized for Armenia airport

Corporación América received “Engineer José Luis Delpini” award to remarkable structure corresponding to 2011-2012 two-year period as a recognition to the works carried out at Zvartnots airport in Armenia. The political, geographical, cultural, climatic, and even geological features have turned the project into a challenge for the Argentine team. The most important structural experts in our country have valued such effort.

The award ceremony was held within the framework of the opening of the 22nd Structural Engineering Seminar organized and under way until September 7 at Borges Cultural Center. The award was given to Corporación América and to Fontán Balestra y Asociados firm, who were the developers of the airport terminal in Armenia.

The awards promote the development of the Argentine structural engineering, highlight the conceptual merit of the project, as well as any innovation in theory and technology, together with the esthetical and functional features. To deserve such award, the structural project needs to have been basically developed in Argentina, while the construction itself can be located either in the country or overseas.

At the presentation, the jury was made by engineers Raúl Husni, from the Association of Structural Engineers; Néstor Guitelman, from the Argentine Engineers Center; and architect Juan Carlos Fervenza, on behalf of the Central Society of Architects.

Founded in 1975, the Association of Structural Engineers (AIE, from the Spanish: Asociación de Ingenieros Estructurales) is an Argentine association that gathers professionals in structural engineering. Its main purposes are contributing to engineering development, dignifying the profession, and maintaining a high ethical standard among the members and in the activity as a whole.
On September 16, 2011, Corporación América formally opened the new terminal of Armenia. The airport, which is strategically located between Europe and the East, has become an important HUB for the region. The group invested 160 million dollars in the construction of a total area of 34,000m2 to operate with 3.5 million passengers a year.

A new departures and arrivals terminal was built. It relies on more than 19,000 m2 in area. In addition, it is featured by commercial spaces, VIP lounges, and remote boarding positions. The airport is fitted with anti-seismic technology and intelligent heat-light control. In addition, it applies security and customer service technology. These features position the terminal under the highest standards required by the international airport organizations.

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Lunes, septiembre 10th, 2012

Eduard Eurnekian in ICC Bulletin magazine

The official newsletter of the International Chamber of Commerce held a special report on the delivery of business award for peace in Oslo,which was awarded the President of Corporacion America, Eduardo Eurnekian.

The Six Business for Peace Honourees are from left to right Ibrahim Abouleish (Egypt), Latifur Rahman (Bangladesh), Reginald A. Mengi (Tanzania), Vladas Lasas
(Lithuania), Eduardo Eurnekian (Argentina) and David W. Mac Lennan (USA).

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Viernes, agosto 24th, 2012

500,000-dollar reward for information on Raoul Wallenberg

The top authorities of the International Raoul Wallenberg Foundation, headed by Eduardo Eurnekian, announced that half a million dollars are offered to anyone who can provide information about the Swedish diplomat who saved thousands of lives during World War II.

New York, 21 August 2012 – Baruj Tenembaum and Eduardo Eurnekian, Founder and Chairman of the International Raoul Wallenberg Foundation (IRWF), announced the decision to reward with USD 500,000 to any person or entity that can provide solid and verifiable information on the whereabouts of Wallenberg and his chauffer, Vilmos Langfelder.

Raoul Wallenberg was a young Swedish diplomat who saved thousands of lives in Budapest during the Holocaust. He was arrested by Soviet forces on 17 January 1945, along with Langfelder, his chauffer. Since then, his fate and whereabouts remain a mystery.

It was in a meeting held by the highest authorities of the IRWF and UN Secretary General Ban Ki-moon, that this important announcement was made, which reflects the interest and commitment to obtain valuable information on the whereabouts of his remains.

Based on available information, the IRWF considers that if Wallenberg and Langfelder were actually killed by the Soviets, historical records should be available. Unfortunately, the Russian authorities are preventing unrestricted access to the KGB archives by scholars and researchers who are looking for this information.

Moreover, Tenembaum and Eurnekian presented Ban Ki-moon with the “Raoul Wallenberg Centennial Medal”, specially minted and the first in its series, this medal coincides with the 100th birthday of the Swedish hero.

The Wallenberg Foundation is a global reach educational NGO, which works non-stop to preserve and promote the legacy and thinking that he left to all those willing to build further just and caring societies.

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Martes, agosto 14th, 2012

Eduardo Eurnekian at the United Nations

Deputy Secretary-General Jan Eliasson (centre) meets with Eduardo Eurnekian (right), Chairman of the International Raoul Wallenberg Foundation, and Brauch Tenembaum (left), Founder of the non-governmental organization.

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Jueves, junio 21st, 2012

We are our memory

By Mr. Eduardo Eurnekian – Published in Perfil newspaper on 16/06/2012

It was in early 2002 when in a first meeting with the then British ambassador to Argentina, Robin Christopher, he presented to me the concerns voiced by the Commission of Families of Argentines Fallen on the Malvinas War, headed by Héctor Cisneros, César González Trejo, Leandro de la Colina and Delmira de Cao. What they highlighted was the need to create a special place where families and all Argentines could honor the memory of those who fell for their country.

Such concerns were raised by these people after their first trip to the Islands in March 1991.

Involved in the initiative from the very beginning, I started following the possible alternatives offered by the diplomatic processes. It is worth noting that the intervention and cooperation of ambassador Christopher was crucial. His good attitude and motivation, together with the action taken by the Argentine Foreign Office, made it possible that on 14 July 1999 the installation of the current monument in Darwin Cemetery be agreed upon. This cemetery was later on declared historical place and war cemetery.

The truth is that although the Commission of Families of the Fallen had advanced on the design and ideas of the project, they lacked or hadn’t been able to raise the necessary funds to materialize it.

It was at this point that I intervened directly and in March 2003, we started building the cenotaph -that is 24 plaques with 649 names-. The model was placed in Ezeiza International Airport so that all relatives could witness the whole process. In November that same year, the work had been completed and the corresponding transfer agreement was signed.

Finally, on 15 February 2004, the installation of the monument was completed in its final destination, where it reads: “The People of the Argentine Nation in Memory of the Argentine Soldiers Fallen in Action en 1982.”

Beyond all differences and with a moral conscience, both countries combined efforts in the pursuit of a well-deserved recognition.

I recently had the chance to go back to the Islands to honor the memory of our brave soldiers. The feeling you get there is hard to put into words… a possible image would be the one Jorge Luis Borges described: “We are our memory; we are this dreamlike museum of shapes…”

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Miércoles, junio 6th, 2012

Mr. Eduardo Eurnekian recognized by the Latin American Chambers of Commerce

Mr. Eduardo Eurnekian was given the Camacol award by the Latin American Chambers of Commerce, during the closing ceremony of the 33rd Hemispheric Congress of Latin Chambers of Commerce and Industry.

The Argentine businessman was recognized as one of the 2011 personalities for his excellence in business. The award-giving ceremony was held in Coral Gables, Florida last 1st June.

“It is humbly that I say, that I do not take this distinction as a personal recognition to me. I take it as a recognition to thousands of entrepreneurs, who live a life of constant creation, with the spirit of building a better society, and to thousands of businessmen, who seek that this passion for undertaking does not get lost in the maze of bureaucracies and misunderstandings, between the State, the businessman and the worker”, stated Mr. Eurnekian upon receiving the prize.

He has also recently received the “Business for Peace” award in Oslo, Norway, which was handed to him by Nobel Prize winners. On this occasion he will be honored with the Entrepreneurial Excellence award, for his great achievements in the business world in Latin America.

Besides the recognition to Mr. Eduardo Eurnekian, the remaining Honorees were Francisco Sánchez, Under Secretary of Commerce For International Trade at the US Department of Commerce, for Excellence in Public Sector Service and to Helen Aguirre Ferré, from Diario Las Américas, Miami, for Excellence in Media Communication.

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Lunes, mayo 28th, 2012

Interview with Eduardo Eurnekian for the newspaper Perfil

One of the most influencing businessmen in the country, recently recognized by Nobel Price winners and by the UN, considers the Government should explain its plans for the future in order to tackle the lack of confidence resulting from such measures as the block on imports and the restrictions on foreign currency exchange. He believes Argentina should once and for all aspire to become a world-class player.   

By Magdalena Ruiz Guiñazú

A rainy afternoon is falling on Buenos Aires and in Eduardo Eurnekian’s office (once a cotton mill were dedicated women used to weave with textile looms all while Eurnekian envisioned something later called Cablevisión) there gleams a prize he was given in Oslo, were Nobel Prize winners selected and recognized him as an Emissary of Peace.

—Nobel Prize winners have gathered together with the purpose of choosing the businessmen of the year who had worked for peace. Also, some months ago I was recognized by the United Nations with the Ambassador of Goodwill award and, as you can see –he smiles- I’ve been pretty lucky this year, because on 1st June, the Latin American Chamber of Commerce (Camacol) is granting me an award which is given annually as a reward for the performance of an Iberoamerican entrepreneur. So, it would be three prizes. I have been really lucky.
—You claim you have been lucky, but without a doubt, luck is something you earn. I think many of us journalists can still remember this house with a cotton mill on the upper floor, a television studio on the lower floor and the make-up room randomly set up in any office. This just doesn’t happen as if by magic. On the other hand, no one boarding a plane could fail to notice Aeropuertos 2000 as a point of departure.
—Yes, it is work. But there’s also a good element of luck to it. Indeed, it all stems from a vision of Argentina, of the world. But also, I insist, we have a highly capable staff, good health on my side, and real friends around me. In life you always need luck.

—However, this is a rather difficult country; with complex situations. What analysis do you make of it now?
Mr. Eurnekian sighs and then replies:
—Look, I see it as a country which had great opportunities in the past and still has them today. It is like someone who owns a reserve. Let me put it straight: the aspect that can better tell how much Argentina has is its own reserves. Minerals, oil, the wealth of the land. And this will not disappear with the passing of time, because it is not an industrial reserve, which somehow has a lifecycle. Take a look at what Argentina has to offer. Patagonia, with its oil and gas. Proven reserves of gases and fuel oil. Extraordinary fields which yield two harvests a year. This is still the value of Argentina. And it will keep on being so. Some day, we will also decide “seriously” to become part of the present world. Not the world of tomorrow. Some day, we, Argentines, will decide to become part of the generation that decides “I will be a lead player”. And not just a simple spectator and transferor of wealth. No. I’ll stay here. I’ll exploit this wealth. And, consequently, I’ll also be a part of the world.
—How long will it take?
—For us to be there? Nobody knows. Luck is luck.
After seeing our doubtful look, he explained:
—Luck is the situation in which contingencies have such a magnitude that can’t be modified. I can’t modify what will happen when I leave this place. You see? Anything can happen. When we show unwillingness in the handling of the situations that come before us, what happens is, again, luck. Sometimes, even a little bit of luck. Note, that at some point other countries in Latin America have become aware of that.
—For instance?
—I’m talking about countries such as Chile, Peru, Brazil and even Uruguay.
—They are lager meat exporters than we are.
—They have a political tenor of great social characteristics and social relevance, and they consider they should combine, harmonize, the desire of a participatory construction of society within a broader context. That is to say, global. And I think we’re getting closer to that, to organizing that and it can just happen at any time.
—Since we’re talking about the world, what is also happening is that something so crucial in our history as the influence of Europe has changed. The continent is undergoing a difficult situation that may be compared with the aftermath of 1918.
—This is a two-phase growth process. In the aftermath of World War II, Europe underwent a peace process, a process of reorientation of its borders, like never before in its own history. Let’s not forget that the USSR, a socialist regime, had reached the center of Germany. Countries such as Ukraine, Poland, Bulgaria, Romania and Greece have transformed themselves; they have become part of the business activity of Western Europe, which in turn, has grown significantly. However, it cannot be ensured that this growth will be linear. All countries usually believe that we can easily go from a per capita income of 5000 or 10 thousand dollars to one of 40 thousand and from there to one of 80 or 100 thousand. But it doesn’t work this way. Technology also has a limit. Not technology itself, but what it can provide. It can cause a rift within societies. As I mentioned before, we are used to something linear (the automatic increase of income amounts), and I insist, it doesn’t work this way. At some point in time, a society knows that it is thriving and pushes for social and economic improvements, or improvements of any kind, but unfortunately, if those improvements do not come along a strong efficiency from the States, the society will have to leave out some of these improvements to keep on living in harmony. That’s the only way.

—And what about China?
—I’m not concerned about China’s advance. On the contrary, I see a country of 1500 million people that is improving its standard of living. And I think it is reasonable that not only the Chinese, but also the citizens of India, Pakistan and Indonesia (that is to say the South Asian countries) can aspire to a better standard of living. As a human being, it doesn’t do me any good that there are people living in misery, on 50 cents. This is why I think it’s reasonable that these countries can enjoy a better standard of living. The world would be such a great place if we could put an end to the regional disputes first and then to the disputes which have historically and during 300 or 400 years halted nations. Today, those massive claims have almost disappeared. The English are not requesting to keep something and the Japanese are not willing to knock someone down. And the Americans, who use a different system and a different handling of politics, are not demanding territorial advantages. Besides, there are two factors to take into account: the toll of human lives inherent in any dispute and the communication system that quickly rejects, in the presence of the whole world, the belligerent attitude of the parties. These are two positive aspects: every human life counts. And, we, human beings, don’t want any more disputes or casualties; and we demand consideration to our problems that, if they appear, will immediately be spread all over the Internet, whereas in the past, any event would take months or weeks to become widely known.

—Mr. Eurnekian, you are a fighter (and this building is a witness of that), what’s your opinion on our advance on Angola?
—Well, the advance on Angola truly called my attention. We should emphasize all aspects. The Argentine presence is important in all Eastern or Arab countries. Ambassadors are not gentlemen who just live in a large house with the country’s flag flying outside the door. Ambassadors are trade representatives. They have historically been created to that aim. The presence of our ambassadors should also be commercial and it should involve the placement of our products. In my opinion, it can be Angola or any other country. This experience should probably be repeated in many other nations.

—And again, considering our country, what do you think of the restrictions we have in the field of imports, for instance?
—In many occasions I have stated that, personally, I do not mind this type of policies, because the policies are implemented by the State, which knows and has a long term vision of the decisions that need to be made. What I’m worried about is the lack of specificity and of a well-explained mid and long term plan. As a businessman, I want to play an active role in this process, because this is our country, right? It should thrive. This is a democratic government, elected by the people. It should thrive. And how can it thrive? From my viewpoint, I would demand a further explanation of the plans, so I can support them. I am knowingly supporting them, but I need to know them thoroughly, so that I can help carry out this plan. Do they need me to make investments? I can make investments. I am making investments, but sometimes I think this is not enough. Things have to be better explained, to avoid this apparent and incidental lack of confidence that has been building up.

—Just a moment ago we discussed the issue of the power of nations. The question now is: what is the power of the individuals then? What is power for you, who have fought so many battles?
—The power of the individuals… –he whispers, thinking it over–. Today there is the individual, the corporation and the countries. In recent years, nations have probably become increasingly aware of what the exercise of power over corporations and over individuals means (it is an attitude). At some point in history (not far away in time), individuals used to be very valuable, as they had and kept real power. They kept and had power. Economic and political power. This has lost strength throughout the years and modernity shows that citizens hold power, indeed, but within the framework of an organization. If this organization is an economic one, it is also of significance. Why? Because, it can hypothetically be a conglomerate, a corporation. Let’s not forget that corporations can attain great participation in the total production of an activity, but also, the ones that finally regulate it all are the States. Today, the corporations are instruments of the States, not the other way around. At some point in time, this used to be different, but at present all States use corporations as instruments of their needed and political interests.

—Well, Mr. Eurnekian, you have broadened the question. But, in your case, when you were a child and then a young man (we know that even when the world was quite different, as a child you were really loved by your parents), where did you get the strength to fight until reaching the position you hold now?

—It must have been the fact that I was brought up by an immigrant father. An immigrant father comes with a …–he thinks it over–. I can talk about my parents, Armenian and arriving from hostile and conflicting countries. That endured years of war…Of my parents that arrived at such a free…liberal…country as Argentina. For them, this was a great blessing for sure, but I never felt that my father was a foreigner. He was more Argentinean than I am. Beware all those who say bad things about Argentina. The freedom that my father received in this country and that allowed him to raise his children… As he could progress here, he also felt he owed it to Argentina and to no one else. As I’m telling you, we were patriots. That said, the upbringing at that time, at least my experience, was very combative. My father’s problems, as a small textile businessman, would be dealt with at the dining table. In those years, we would have lunch and dinner at home; unlike today, when families just gather together in the evening. I’m talking about the 30’s. At that time, we would meet for lunch. Everyone came back home and then continued their activities until the evening, when the whole family met again for dinner. Family talks were not something unreal. We would basically talk about how the head of household was doing. That is to say, how the father was doing at work. This way we could learn if he was doing good or bad. If he was managing… And all this, without one noticing it, leaves a seed… Call it what you want, a seed of continuity, of interest, of life destiny, but the truth is that that was the reality we lived in.

—How many siblings were you?
—Three. This seed of continuity I was talking about didn’t fully take root. Out of three, two devoted to medicine. I was the only one who carried on the business activity.

—And coming back to the idea of personal effort, it is interesting to take a look at youth now. Do you thing young adults (who are becoming fashionable in politics) have a constructive vision of life? Or do they just accept the miracle of luck that you mentioned earlier?
—If you don’t believe in luck, believe in youth. Young people have no reason. We, adults, have reason. However, they will keep on winning, because they will do what they want to. And that “is” luck.

—To conclude, Mr. Eurnekian, when you talked about your family it suddenly came to my mind a strange scene: if you met your father again now, what would you tell him?
—Look, if met my father now I probably wouldn’t have time to tell him anything, because first he would have complained saying that I have done something wrong.

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Martes, mayo 8th, 2012

Eduardo Eurnekian received the “Business for Peace Award 2012” in Oslo

The leading Argentine businessman was selected as one of the seven Honorees of the world by the Award Giving Committee consisting of Nobel Prize winners in Peace and Economics.

Oslo, 7 May, 2012 – The Business for Peace Foundation has recognized Mr. Eduardo Eurnekian as one of the seven Honorees and granted him the “Business for Peace Award 2012”. This select group of businessmen was chosen by the Committee comprising Nobel Prize winners.

Today, Mr. Eurnekian received the award in Oslo City Hall during a ceremony attended by the Committee members, formed by Professor Muhammad Yunus (winner of the Nobel Peace Prize for 2006), Professor Wangari Maathai (winner of the Nobel Peace Prize for 2004) and Professor A. Michael Spence (winner of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2001); Juan Manuel Ortíz de Rosas, Argentine Ambassador to Norway and Hugo Eurnekian, Vice President of Corporación América.

During the dinner that followed the ceremony, Mr. Eurnekian highlighted that: “As a businessman I have always tried to generate shared values between the company and the different sectors of the society at global level.” And he added that: “Only though the building of dialogue and in a globalized world it is unthinkable that any State can persist in the long term without ethical values that govern it.”

The Argentine Chamber of Commerce proposed Mr. Eurnekian’s nomination for considering him a role model and an inspiration to the business world community. The institution recognized the businessman for always playing an active role and for being strongly committed to the business activity around the world.

In addition to the Argentine businessman, Ibrahim Abouleish (Egypt), Anil Agarwal (India), Vladas Lasas (Lithuania), David W. MacLennan (USA), Reginald A. Mengi (Tanzania) and Latifur Rahman (Bangladesh) were also selected by the Committee.

Every year, the Business for Peace Foundation jointly with the International Chamber of Commerce select an exclusive group of businessmen drawn from around the world, who besides excelling in business bring solutions and value to their communities.

The Committee’s selection criteria highlight the actions of those who promote social responsibility and ethical practice of business in an outstanding way, and stand out as examples to others.

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Jueves, mayo 3rd, 2012

Eduardo Eurnekian thanks President Obama

Eduardo Eurnekian, president of the Raoul Wallenberg Foundation in Argentina thanked to the US president, Barack Obama for highlighting the work of the Foundation in the world through the development of educational and outreach projects that promote the values of solidarity and civic courage.

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Martes, abril 24th, 2012

Eduardo Eurnekian gets “Business for Peace Award 2012”

Eduardo Eurnekian
The leading Argentine businessman was selected by the Award Giving Committee consisting of Nobel Prize winners in Peace and Economics.
Oslo, 23 April, 2012 – The Business for Peace Awards has selected Mr. Eduardo Eurnekian as one of the seven Honorees to receive the “Business for Peace Award 2012”, chosen by a Committee, comprising Nobel Prize winners who specifically work in the selection of outstanding businesspeople from around the world.

Mr. Eurnekian will receive the Award on 7 May in Oslo City Hall during a ceremony attended by the Committee members formed by Professor Muhammad Yunus (winner of the Nobel Peace Prize for 2006), Professor Wangari Maathai (winner of the Nobel Peace Prize for 2004) and A. Michael Spence (winner of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2001).

The Argentine Chamber of Commerce proposed Mr. Eurnekian’s nomination for considering him a role model and an inspiration to the business world community, not only in Argentina, but also worldwide. The institution highlighted that the businessman has always played an active role and has been strongly committed to the business activity.

Every year, the Business for Peace Foundation jointly with the International Chamber of Commerce select an exclusive group of businessmen drawn from around the world, who besides excelling in business bring solutions and value to their communities.

Together with the Argentine businessman, this year’s other six winners are: Ibrahim Abouleish (Egypt), Anil Agarwal (India), Vladas Lasas (Lithuania), David W. MacLennan (USA), Reginald A. Mengi (Tanzania) and Latifur Rahman (Bangladesh).

The awarded Honorees are businesspersons who, through their own actions and commitments, promote socially responsible and ethical business practices in an outstanding way, and stand out as examples to others.

Eduardo Eurnekian

Eduardo Eurnekian was born on 4 December 1932. He is the President of Corporación América and 1st Vice President of the Argentine Chamber of Commerce.

After taking his first steps in the textile industry, he got diversified into Communications & Media by creating the first multimedia development in Argentina.

In 1998, Corporación América strengthened its process of global expansion with investments in a variety of areas related to services, production and infrastructure.

As for the airport industry, it currently operates 51 terminals worldwide, 35 of which are in Argentina.

Unitec Agro has 400,000 acres of farmland and will open an aqueduct comprising 273km irrigation channels.

Cabaña Don Panos and Arg Natural Beef were recognized for their leadership in the genetic development and cloning of the National Grand Champion 2007 (Brangus breed).

Unitec Bio has two biodiesel plants with an annual production of a million tones and holds the concession for the exploration and development of oil and gas in the south.

He became partners with Bodega del Fin del Mundo and recently acquired the NQN winery.

Currently, he is working in one of the most significant initiatives and a challenge for the region: the “Bioceánico Aconcagua Corridor”.

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Lunes, abril 16th, 2012

Eduardo Eurnekian’s Corporación América will invest USD 100 million in the construction of two wind farms in Uruguay

The Uruguayan Administración Nacional de Usinas y Transmisiones Eléctricas (UTE) has awarded the consortiums Fingano S.A. and Vengano S.A. -run by Corporación América and formed by the San José Group and Contreras Hermanos- contracts towards the development, construction, assembly, operation and maintenance of two wind farms to be located in the Department of Maldonado in Uruguay, through a Power Purchase Agreement for the first 20 years of operation.  

These companies will invest 210 million dollars for the installation of 40MW and 50 MW wind farms spreading over 2000 hectares. Of this total, Corporación América will inject the amount of 100 million dollars.

It will take a year for the works to be complete, since it includes everything, from repairs and improvement of the access roads to the farm, to the placement and construction of the mill foundations, transport and assembly of the wind generators, laying of underground wires within the farm, installation of the transformer station and connection works.

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Martes, abril 3rd, 2012

Eduardo Eurnekian donated 3500 laptops to Nagorno Karabakh students

On Monday, April 2nd, the Fruitfull Armenia Foundation, promoted by Mr. Eduardo Eurnekian, gave 3500 laptops to all first to fourth grade students from the cities of Stepanakert, Shoushi and Karin-Tak, in the Nagorno Karabakh Republic (NKR).

The donation is framed within a project envisioned by the Argentine-Armenian entrepreneur. At the beginning of 2011, he signed an agreement with the NKR government, committing himself to giving a computer to every child of the Republic and to training the teachers who would later guide the children into using the device.

In turn, the government made sure that these three cities had high-speed Internet connection, a crucial tool for the success of the plan. Once the government ensures the connection in the other regions, the Foundation will continue handing in the XO computers (OLPC laptop prototype) to the rest of the schools. This way, each primary school student in the Nagorno Karabakh Republic will have for the first time their own computer.

With this initiative, called NUR (New Educational Strategy), Mr. Eurnekian has attained his desire to cooperate so that each child in NK has the opportunity to receive quality education.

“The international community conceives the Nagorno Karabakh Republic within a context of war and regional disputes. Most people fail to pay attention to the children who are born and who live there. These children are entitled to the universal right to education and access to information. Through the NUR program I intend to bridge the gap and grant the children of Nagorno Karabakh an opportunity to get the best education that the world currently has to offer”, stated the businessman.

NUR seeks to improve the learning experience by introducing technology in the classrooms, the schools and the families.

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Miércoles, marzo 21st, 2012

The Bioceánico Aconcagua Project is Gaining Momentum -Strong Support from the Argentine and Chilean Governments

The Bioceánico Aconcagua Corridor is a project initiated by Corporación América -a holding of companies run by Eduardo Eurnekian. It comprises an interoceanic railway link that will require an investment of USD 3 billion and will introduce a new level of physical and commercial integration between the Pacific and the Atlantic oceans. 

Santiago de Chile, 16th March, 2012.

President Cristina Fernández de Kirchner and her Chilean counterpart, Sebastián Piñera, have agreed to strongly support the Bioceánico Aconcagua Corridor project and to arrange the final details with the purpose of issuing the call for bids in the next six months.
In her speech, the president “strongly supported the railway tunnel project between Mendoza and Santiago”, stated Mr. Hugo Eurnekian -president of the CBA Holding- when talking about the statements made by the president during a gala dinner hosted by Mr. Piñera.
“The dreams of our Liberators San Martín and O’Higgins will come true the moment we get together in the name of physical integration through the tunnel below the Andes, and we leave behind the old paradigm of Argentina in the Atlantic and Chile in the Pacific”, claimed the Argentine president.

The presidents requested the Binational Entity (formed by the governments of both countries) to determine in a six month period the feasibility of the works. This entity will also draw up a proposal plan to invite companies which are interested in the project.
The document, signed by presidents Piñera and Fernández de Kirchner, specifically points to the “satisfaction for the progress made so far and urges the Binational Entity to put its efforts to quickly complete the approval of the studies submitted, within a 6 month period” in order to open an Expression of Interest and issue the corresponding call for bids.

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Miércoles, febrero 15th, 2012

On February 9th, the United Nations Development Programme (UNDP) in Armenia hosted Mr. Eduardo Eurnekian, a prominent Argentinean-Armenian businessman, who has is playing an instrumental role in supporting sustainable development in Armenia.

His wide and diversified activities in the country are aiming at reducing poverty and bridging regional disparities through supporting agricultural development, creating jobs and improving the quality of services.

For his efforts, boundless devotion to the homeland and dedication to overcome development challenges in Armenia, UNDP honored Mr. Eurnekian with a Certificate of Appreciation recognizing him as an advocate for sustainable development.
Welcoming the honorable guest, Dafina Gercheva, UN Resident Coordinator/UNDP Resident Representative in Armenia said, “It gives me an immense pleasure to host a function at the UN House honoring such a prominent person as Mr. Eurnekian. He is well known to everyone in Armenia, in Diaspora and beyond. Mr. Eurnekian brought to the country a new culture that symbolizes a collective experience, tradition and wisdom of the Armenian Diaspora. His substantial investments in the Homeland are truly aimed at improving the wellbeing of Armenian citizens and transforming the country into a modern economy and functional democracy. UNDP acknowledges and highly appreciates Mr. Eurnekian’s efforts to advance development agenda in the country and making Armenia a better place to live.”
For his part, Mr. Eurnekian thanked the UNDP for the recognition and expressed readiness to work further, in partnership with UNDP, for the benefit of the homeland and the people of Armenia.

On February 9th, the United Nations Development Programme (UNDP) in Armenia hosted Mr. Eduardo Eurnekian, a prominent Argentinean-Armenian businessman, who has is playing an instrumental role in supporting sustainable development in Armenia. His wide and diversified activities in the country are aiming at reducing poverty and bridging regional disparities through supporting agricultural development, creating jobs and improving the quality of services.
For his efforts, boundless devotion to the homeland and dedication to overcome development challenges in Armenia, UNDP honored Mr. Eurnekian with a Certificate of Appreciation recognizing him as an advocate for sustainable development.
Welcoming the honorable guest, Dafina Gercheva, UN Resident Coordinator/UNDP Resident Representative in Armenia said, “It gives me an immense pleasure to host a function at the UN House honoring such a prominent person as Mr. Eurnekian. He is well known to everyone in Armenia, in Diaspora and beyond. Mr. Eurnekian brought to the country a new culture that symbolizes a collective experience, tradition and wisdom of the Armenian Diaspora. His substantial investments in the Homeland are truly aimed at improving the wellbeing of Armenian citizens and transforming the country into a modern economy and functional democracy. UNDP acknowledges and highly appreciates Mr. Eurnekian’s efforts to advance development agenda in the country and making Armenia a better place to live.”
For his part, Mr. Eurnekian thanked the UNDP for the recognition and expressed readiness to work further, in partnership with UNDP, for the benefit of the homeland and the people of Armenia.

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Miércoles, febrero 15th, 2012

United Nations Development Programme (UNDP) in Armenia hosted Mr. Eduardo Eurnekian

On February 9th, the United Nations Development Programme (UNDP) in Armenia hosted Mr. Eduardo Eurnekian, a prominent Argentinean-Armenian businessman, who has is playing an instrumental role in supporting sustainable development in Armenia. His wide and diversified activities in the country are aiming at reducing poverty and bridging regional disparities through supporting agricultural development, creating jobs and improving the quality of services.

For his efforts, boundless devotion to the homeland and dedication to overcome development challenges in Armenia, UNDP honored Mr. Eurnekian with a Certificate of Appreciation recognizing him as an advocate for sustainable development.

Welcoming the honorable guest, Dafina Gercheva, UN Resident Coordinator/UNDP Resident Representative in Armenia said, “It gives me an immense pleasure to host a function at the UN House honoring such a prominent person as Mr. Eurnekian. He is well known to everyone in Armenia, in Diaspora and beyond. Mr. Eurnekian brought to the country a new culture that symbolizes a collective experience, tradition and wisdom of the Armenian Diaspora. His substantial investments in the Homeland are truly aimed at improving the wellbeing of Armenian citizens and transforming the country into a modern economy and functional democracy. UNDP acknowledges and highly appreciates Mr. Eurnekian’s efforts to advance development agenda in the country and making Armenia a better place to live.”

For his part, Mr. Eurnekian thanked the UNDP for the recognition and expressed readiness to work further, in partnership with UNDP, for the benefit of the homeland and the people of Armenia.

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Viernes, febrero 10th, 2012

Eduardo Eurnekian’s Vision

“Latin America needs to become connected. We have to look toward the interior of Latin America. I cannot imagine this region with double the population, a developed interior with prosperous cities without the necessary communication”.
He believes in an interconnected Latin America –integrated through infrastructure. He also believes that economic and social development will come from that network of engineering and construction. Eduardo Eurnekian began his career working in the family textile business and today he ope-rates airports, has mining and agricultural projects, is the owner of a multimedia corporation and a biodiesel plant. He recently bought a winery and is now immersed in what will be one of the largest infrastructure projects in South America: the Bioceanic Aconcagua Corridor, a tunnel that will traverse the Andes Mountains and open at the Pacific Ocean, 5,100 kilometers (3,168 miles) south of the Panama Canal.
“Latin America needs to become connected,” Eurnekian tells Latin Trade from his office in the Palermo neighborhood in Buenos Aires. “We have to look toward the interior of Latin America. I cannot imagine this region with double the population, a developed interior with prosperous cities without the necessary communication,” he says.
He emphasizes the need for railroads, roadways, tunnels, connectivity, airports and large-scale infrastructure projects that bore through the hemisphere’s center, stretching from north to south and east to west. Eurnekian stresses the need for large-scale projects that generate business, employment, development and that lead to better living standards.
Talk soon turns to the subject of the corridor, a $4.2 billion rail project that will run across the Argentina-Chile border. Bidding on this project begins mid-year. This project was conceived out of the need to transport products from the Southern Cone to the Pacific year-round via a route that would be closer than Panama and less expensive and complicated than the Strait of Magellan route in southern Patagonia. Although there are many passes along the 3,200-mile border between the two countries, the Cristo Redentor in Mendoza, which is generally used to transport cargo, suffers frequent shutdowns during the winter months due to the heavy snowstorms at its 3,200-meters (10,500-feet) altitude.
Eurnekian does not know if this project is the culmination of his long career, but it is what enthusiastically consumes him today. He believes that Argentina needs such projects. The businessman emphasizes that there is much construction to be done in the variety of investment opportunities that Argentina offers. “Argentina has an enormous ichthyological potential in its marine platforms, agricultural development in the pampas, petroleum centers in the south, marine basins for oil and gas drilling in the north and an array of mineral riches along the border with Chile,” he says. “If we add together the natural beauty in the south, the lakes, mountain ranges, pampas, and all of the northern region, we are talking about investment potential for hotel activities and businesses that is unparalleled anywhere in the world.”
He is convinced that investment prospers through the effort, abi-lity and creativity of those who move it forward—beyond the country where it was created. In his opinion, Argentina is not particularly difficult or potentially risky for investment, he says. Rather, it lacks a more global cachet because investors only focus on the recent history in the region. Without mentioning Mexico or Brazil by name, he points out that other countries have had to rely on foreign financial resources to avoid collapse. Yet he establishes an implicit comparison saying that this has not happened in Argentina.
Eurnekian further believes that a foreign investor would not have significantly different difficulties investing and working in Argentina than those that may be encountered elsewhere. “It [Argentina] is as complex as any other country. I believe that conditions are the same. I do not think that Argentina is any less friendly than any other country,” he says, adding that in Argentina, there is no ideological clash regarding investments or the foreigners who might bring them.
The entrepreneur remains committed to Argentina (as were his parents) though his diverse investment portfolio has brought him to various countries throughout the region as well as to Italy, Morocco and Armenia—the land of his ancestors.
In fact, Eurnekian believes Argentina has a comparative advantage when it comes to the ability, suitability and training of the Argentine worker who easily adapts to any activity. At the same time, despite the expanse of the Argentine territory, he believes the country has a strong communications infrastructure, and viable road connections, meaning that an investment in the interior does not mean that you are “stuck in the middle of nowhere”.
Eurnekian also dismisses the idea of the additional “Argentine cost” as is often heard in business forums. “Tell me what it costs in the United States, Europe or any other country in the world,” he challenges. “Now, yes, it is cheaper to invest in a politically unstable country such as somewhere in Africa, but that also has its price.”
Bioceanic Aconcagua Corridor
There will be only 205 kilometers (127 miles) of railroad tracks, but they will put an end to what was an axiom of South American “real politik” for more than a century: Argentina on the Atlantic and Chile on the Pacific. The Bioceanic Aconcagua Corridor project will bore through the formidable physical barrier—the Andes Mountains—increasing commerce throughout South America. The completion of this tunnel will revitalize commerce in the region with a transportation system capable of shipping more than 70 million tons of products to Asia annually.
Currently, 83 percent of Southern Cone commerce that leaves for the Pacific is sent by ship—a very long and costly route. Most of the remainder goes through the Cristo Redentor Pass in Mendoza, Argentina. In the winter months, this route is clogged with long lines of stranded trucks waiting for the snow storms to end. The pass can be closed for up to 60 days in winter due to bad weather.
The key to the Bioceanic Aconcagua Corridor is that it is being built 700 meters (2,300 feet) lower than the Cristo Redentor Pass, which guarantees its operation year-round. This project consists of a main 52-kilometer (31 mile) tunnel and 33 secondary tunnels with a total of 20 additional kilometers, 75 bridges and 33 viaducts. The railroad is electric with wide tracks that will be joined to other pre-existing railroad tracks in both countries.
For decades both sides of the mountain range have talked about the need for a pass of this type, and now the project is underway. The original design from Tecnicagua—which Eurnekian bought—follows 13 other projects from which the current one emerged. The project will be completed by a consortium made up of Corporación América, the Chilean companies Empresas Navieras S.A and Contrera Hermanos S.A., Japan’s Mitsubishi Corporation and Geodata SpA of Italy. Other companies such as Brazil’s Camargo Correa, will participate to a lesser degree.
Eduardo Eurnekian’s investment portfolio is surprisingly diverse. His company, Aeropuertos Argentina 2000, modernized the main terminals in Argentina, and today he manages 35 airports in that country and controls 90 percent of the air passenger traffic. He has also renovated terminals in Lima, Peru, and in Carrasco and Punta del Este in Uruguay. In Ecuador, he revamped Guayaquil airport and built the Ecological Airport in the Galapagos Islands. In November, Brazil granted him the first concession ever given to a private company for renovation of an airport: Natal. With terminals in Sicily and Armenia, he now has 10 foreign airports in his portfolio.
One of his companies controls 1,600 kilometers (994 miles) of highway in Argentina and another is awaiting appro-val from Uruguayan authorities to build an ecological park with an investment of $120 million. He is also the owner of a multimedia company in Argentina, Corporación América. Currently, he is preparing to participate in the construction of the Condor Cliff-La Barrancosa hydroelectric dam in Argentina’s far south.
Eurnekian has also expanded into a potentially strategic field: biofuels. He has installed his first biodiesel processing plant in the province of Santa Fe, northeast of Buenos Aires. This plant produces 240,000 tons of fuel annually and this year will increase production to 1 million tons by processing soybean oil to make the final product.
In the agricultural sector he operates more than 100,000 hectares (274,105 acres) in various Argentine provinces with 20 percent of that land irrigated. He bought the Bodega del Fin del Mundo, a winery in the Patagonian province of Neuquén and he also recently incorporated a gourmet restaurant in Buenos Aires, “Experiencia del Fin del Mundo.” Eurnekian also has approximately 20,000 head of Brangus cattle in the northern province of Chaco for the purpose of producing high-quality export meat.
And he is also involved in charities, supporting a range of philanthropic activities in both Latin America and in Armenia. There, Eurnekian owns Converse Bank, which focuses on retail and commercial banking, and also runs that country’s postal service.
Eurnekian is convinced that technology must be incorporated in order to improve living conditions. “The current crisis is an indication that the existing technology is worn out; we need innovation,” he says. With that in mind, he is looking into future investments in biotechnology, research and pharmaceutical development.
Latin Trade. Februrary 2012

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Martes, enero 31st, 2012

Eduardo Eurnekian donated Armenian Symbols to the Magallanes region in Chile

The Argentine-Armenian entrepreneur, Eduardo Eurnekian, took part in the donation of Armenian-culture symbols in the region of Magallanes. In turn, he was named Honorary Member of the Puerto Williams Yacht Club

In the Puerto Williams Military Base he donated an Armenian Cross to the Chilean Navy, with the main aim of strengthening the ties between Argentina and Chile and, as a result, increasing the bonds with Armenia. In this context, the Vice-President of the Argentine Chamber of Commerce and President of Corporación América (the company that heads the Bioceánico Aconcagua corridor project and its low base railway tunnel that will connect the cities of Los Andes and Mendoza), pointed out: “The Armenian Stone Cross -Jachkar in its original language- is one of the most important symbols of the religious culture and tradition of that country, the first in the world to adopt Christianity as its official religion. It is for its great significance that I wanted to make this donation to the Chilean Navy and in Cape Horn, as a strong signal of the excellent relations that our sister nations have and as a greeting from Armenia to the Chilean”.

The ceremony was attended by the Armenian Ambassador to Chile, Vladimir Karmishalyan; the Honorary Consul of Armenia in Chile, Eduardo Rodríguez Guarachi; and the Navy Secretary General, counteradmiral Humberto Ramírez Navarro, who thanked the businessman for his gesture.

The donation originated as Eduardo Eurnekian’s way of thanking the Chilean Navy for its cooperation to Zori Balayan, an Armenian journalist, novelist and sailor that one year ago travelled around the world to visit his fellow citizens in the Diaspora and could go through Cape Horn thanks to the help of the national navy.

Mr. Eduardo Eurnekian’s visit to the area was followed by an event in which he was named Honorary Member of the Cape Horn Friends Club and the Puerto Williams Micalvi Yacht Club. Later, he visited the Martín Gusinde Museum. The tour ended in the Cape Horn Lighthouse, where a commemorative plate was placed, donated by sailor Zori Balayan, in which he remembers and thanks the Chilean Navy for its cooperation in his around the world voyage on board of the “Armenia” sailboat.

“I’m leaving particularly moved by the love and affection that I have received here, in the end of the world, in the Chilean lands, a sister nation, whose people I have a great respect and deep appreciation for. I am positive that we will remain close, with common projects that will contribute to the growth and development of our countries”, stated Eurnekian when concluding his activities in Magallanes.

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Viernes, enero 27th, 2012

The Galápagos Eco-Friendly Airport Works are Under Way

Since 2011, Corporación América -company led by Eduardo Eurnekian- has had the concession of the Galápagos eco-friendly airport. This is a unique air base in the world for its particular features and specific conditions; and has been planned as the first airport with sustainability certification and environmental quality:

- The energy demand is partly satisfied with the use of solar energy.
- With rainwater used in sanitary installations, 50% of drinking water is saved.
- It has IATA (International Air Transport Association) service level C.

Upon receiving the Notice of Commencement of Work, issued by the DGAC (Civil Aviation General Directorate) on 20th December, ECOGAL announced the beginning of the project’s first stage, which includes the construction of the new airport terminal, the control tower and the technical block. These works will be completed within 12 months from the resolution issuing date.
In its role as airport operator, ECOGAL has made some adjustments to the current terminal – Seymour de Baltra airport- in order to provide users with a better service while the new terminal is under construction.
Prominent Works:
. 40% expansion of the public hall and airlines area
. Implementation of two x-ray machines, after two years of being out of service
. Expansion of the boarding area: 75% larger than the original; and installation of a 50 m2 bar for passengers
. Ongoing coordination with government agencies
. Addition of a new aviation firefighters team, 15 firefighters from Galápagos, trained by the DGAC
. Runway consequential maintenance
. Tightening of security controls in certain areas, following international standards.

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Miércoles, enero 11th, 2012

Interview with Eduardo Eurnekian in Fortuna magazine

The president of Corporación América talks about the current situation of Cablevisión, the company he created and then sold in 1994. He supports the measure of the Government, but criticizes how it was implemented. His vision on the K economy, and the pros and cons for the following year. The new sector he is aiming at: “I want to buy a bank”.

Cover Story – “The model needs to be further specified.”

“The measure against Cablevisión was not bad, but the way to implement it was. All businessmen applauded the measure, because it is good to break up monopolies. But I ask myself why making such a fuss when it was not necessary. Why such a fanfare”. The definition is given by Eduardo Eurnekian, founder of the cable TV company that currently belongs to Grupo Clarín. Even though in 1994 he sold the enterprise to the American company TCI for USD 750 million and today he is immersed in the world of Corporación América -the holding with an annual turnover of 1 billion, and a portfolio of companies in such diverse sectors as airport, agro-industries, energy, finance and public works-, as any Argentine businessman he followed the searching of Cablevisión’s headquarters minute by minute. In addition he explains that behind that measure there was lack of confidence on the part of the Government. “If they had been confident enough, they would have taken the measure and that was it”, he says. “But the way to go over it made it evident that they wanted to show power, strength and authority, and that is unnecessary because the State already has those qualities. They should have been more subtle.”

FORTUNA: So, is Cablevisión a monopoly or does it have a dominant position in the market? Because users can choose from different operators…

EURNEKIAN: It is a monopoly if we take into account the merger, because the cables of the provinces were absorbed. That is the issue.

FORTUNA: Do you feel that Cablevisión has lost the essence of its creation?

EURNEKIAN: Everything has changed. The technology, the market, the systems. I have always focused on providing a good quality service, which is what we are doing in the airports. I assess my things, and my obsession is providing a good quality service.

But Mr. Eduardo Eurnekian, who is turning 80 in December this year, has a greater obsession than that of services: he is always trying to do more. And not just as a businessman. He is currently learning to play the piano, and although he claims he does not have a good ear for music and that it is a difficult instrument to learn, he has made it his goal to give a concert by the end of 2012. “Although I think it will be quite difficult given the pace I’m going at”, he acknowledges. While learning the notes and the right position of the hands, the president of Corporación América decided his next step. “I want to buy a bank”. Due to the confidentiality agreement signed between the interested parties he did not state the name of the institution he is closing a deal with, but it is known that the entity is Banco Industrial.

DEFINITIONS. Last year was an unusual year for businessmen. Despite the fact that the years of elections tend to somehow paralyze the businessmen of the country on grounds of the political and financial uncertainties that can stem from a change of government, in 2011 the effects of the presidential race were quite small. In fact, according to the Ministry of Industry, the announcements of investments increased to USD 35 billion, that is 76% more than in 2010. In this context, the country closed the year not only with an approximate 7.8% increase in GDP, but also with the consolidation of the continuity of Mrs. Cristina Fernández and her “national and populist model”. And it is regarding this aspect that Mr. Eurnekian demands clearer definitions. “Since Néstor Kirchner’s death there were many comments on who was going to be in the presidential ticket and this was revealed little by little. Besides, it gradually became obvious that there was no reasonable party structure with grassroots support. Even though this was partly positive, because a clear and defined leadership became evident, it had its drawbacks, as all democracies need to have a strong and reasonable opposition. Now we all have to regroup in our businesses and leave those that were elected to lead the country forward and continue with the model that needs clearer definitions”.

FORTUNA: Do you believe there is a model but that it needs some adjustments?

EURNEKIAN: What the Government should do is to further specify what the model is. There is a notion, but if all of us have to adopt a line of action and a specific attitude, we will need to thoroughly know what we are talking about so as to work together in that direction. It is not a standard model that you can buy at a bookstore. It is a heterogeneous model that has worked, but it has to be further specified so that we can all follow it.

FORTUNA: How can the model be further specified?

EURNEKIAN: The most positive thing for the country would be that we all knew clearly where we are heading to. For example, plans. We need plans in all areas and all sectors, that would allow us to know what we have to invest in. It is evident that there is protection of the national industry, but that is too broad. Argentina is a country that should be developing its wind activity. The railroad industry can be another sector. The country needs to develop the railroad industry, rebuild more than 30 thousand kilometers of railways that are in extremely poor conditions. This would be important because after coming out of the crisis, after reducing unemployment, after revitalizing the middle class, this is the time to think about a strategic long term plan.

FORTUNA: And in this context, what will 2012 be like?

EURNEKIAN: There are two main issues. On the one hand, there are the internal affairs. Even though I do not see any storm front for 2012, I think the focus will be on what the State will do so that general demands are reasonable, so that businessmen do not run away. The country has reached a balance, but this balance is rather weak. We need to aim at the fine tune, as the President stated. By fine tune I mean that we all have to be realistic and aware of the whole. If people demand a 45% rise they will bring about a state of expectations that can affect the markets. And, of course, inflation needs to be controlled, that is the other issue.

FORTUNA: And as for foreign affairs? What do you think is going to happen and what challenges does the country face?

EURNEKIAN: Currently there is a strong interdependency in the world and I believe that under these circumstances Argentina will have great advantages. I forecast that developed countries will enter a period of minor growth, but that it will not affect developing countries, like ours. We will keep on having reasonable growth policies; but the country somehow needs to pull itself together, solve pending problems it has at the international financial level and obtain the capital it requires for investment. This is one of the major challenges we have ahead of us. We need to move closer to the international financing sources.

Corporación América, together with Grupo Infravix from Brazil, received the concession of the first Brazilian airport to ever be awarded to a private developer by a bidding process. The Inframérica consortium, formed by both companies, will invest USD 410 million in the construction of São Gonçalo Do Amarante International Airport, in Natal. “This is a major breakthrough for Corporación América, since it entails setting a foot on one of the most important markets in the continent”, explains Eurnekian. With the eyes set on the 2014 World Cup and the 2016 Olympic Games, the Argentine businessman and his Brazilian partner will also take part in the tenders for the construction of an airport in each of the “capitals” of Brazil: one in São Paulo, another one in Rio and a third one in Brasilia. “In that country there are investments for about a trillion dollars. And this is precisely our weak point, getting financing support,” he adds. 

FORTUNA: How can Corporación América get funding?

EURNEKIAN: Investments of this kind are enormous, they require international financial support. This is why Argentina needs to get once again closer to the foreign financing sources.


The president of the holding with companies in the energy, agro-industrial, airport and service sectors has decided to go one step forward, to an area he has not yet dared to enter: none other than the Argentine financial sector. “I want a bank”, Mr. Eurnekian summarizes.

FORTUNA: Why have you decided to enter the Argentine financial sector?

EURNEKIAN: We have done business in a number of industries and we believe it is one of the most stable sectors. If I look back, all the areas we have left behind have lost their shine. That’s the case of the textile industry or the cable TV industry itself.

FORTUNA: So, you are relating the financial sector to stability, but this industry in Argentina has precisely been characterized by its constant instability…

EURNEKIAN: It is true that the financial crises in Argentina have hindered the development and possibilities of commercial activities as a whole, but the bank has kept on being a bank.

FORTUNA: Has the pilot test done in Armenia helped you to make this decision?

EURNEKIAN: It is part of our commercial strategy. We try a small business, we learn it and then we repeat it at a larger scale. What we have in Armenia is very small. We are going about it the same way in mining. We entered the industry with our foreign partners in Chile and now we are going to develop the activity in Argentina.

FORTUNA: What strategy would you use in the case of the bank?

EURNEKIAN: As in all our businesses, we seek majority stake, while having other stakeholders as well. In Argentina there are good banks and over 15 years are needed to start competing with the big players. Of course, I would like to compete at the same level as them, but for that we need years of patience, discipline and success. It is not easy to be a businessman, and perseverance and patience are highly needed.

FORTUNA: As it will be part of a holding, do you think it will be easier for the bank to grow?

EURNEKIAN: Indeed, because a bank has to do with the image and if one has a group that projects confidence, solvency and security to the market, then it is much easier.

Claudio Celano Gómez and Mario Rodríguez Muñoz.

Fortuna Magazine. 7 January 2012

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Lunes, enero 9th, 2012

Doing business entails changing

His business philosophy is based on movement, on following the changes of reality and the changes of business. Founder of Corporación América, he took his first steps in the textile industry to later do business in widely diverse industries, always accompanied by success. In 2011 he opened the “Terminal C” of Ezeiza airport, he won the concession of foreign airports and promoted the Bioceánico Aconcagua corridor. He announced investments for USD 650 million for 2012. Based on those initiatives and his career trajectory, Prensa Económica honored him with the title “Businessman of the Year”.

He is one of the most successful entrepreneurs in the last decades. If something characterizes him is movement, as his assets have passed from the textile industry, to multimedia, to airport services, routes, energy and today he is behind the ambitious initiative of building a corridor by drilling the Andes Range. At 79 he is owner of an energy and vitality to be envied. His passion is what he does every day: working and then swimming in his heated swimming pool. His definitions reveal a character solid as a rock, but also an irony based humor, that slips every now and then.

-          Your first job was in the family business. What was it like?

-          My father and mother were born in Armenia and they came to Argentina when they were young, but they met here. My father founded a textile company in 1928. In the beginning it was a factory of threads to sew, embroider, darn, baste, crochet, and all that was worn at that time. At 17, right after my graduation, I started working in my father’s enterprise. I was a laborer, a hand, a sweeper, I made packages, and delivered goods. I didn’t have any privilege. I was just like anyone else who was starting. Promotions came as you showed your skills, willingness and desire to work.

-           Did it prove to be a good experience for your later career as a businessman?

-          At that time I wasn’t really aware, but, yes indeed, it later turned out to be really important, because I had vast experience in the basic work, I knew how to package, I could separate weavings, receive payments, I made mistakes and I accepted the subsequent reprimand… All in all, it let me grow in the human aspect, giving me the bases to then develop the gift of leadership and, at the same time, it helped me to generate the necessary wit for problem-solving.

-          What did you learn from your father as a businessman?

-          The greatest thing I learnt from my father, and from the immigrants of that time, was the strong sense of justice and honesty: if you gave your word you would comply with it no matter what. I learned that the most important thing a person has is his own name and you have to take care of it both in life as in business. By fulfilling your promises a virtuous chain is created that distinguishes you from others.


-          You were a pioneer in cable TV in the country by creating Cablevisión. How did this break in your business career happen and what inspired you?

-          I suddenly realized my father had been a visionary by devoting to the textile industry in the 20’s. And I was a fool for still doing the same thing 50 years later. That made me redefine my position as a businessman and made me think what I should be doing at that time. Business changes, it moves, at par with reality, and the secret is to grasp the movement and move accordingly.

-          What did you do then?

-          I traveled, I observed, I studied, but above all I saw that by embracing democracy Argentina was going to undergo a great transformation. During the time in which Argentina did not have a constitutional government, the country was stifled in terms of information, while the world was changing at high speed. There was the satellite technology, cables no longer transmitted only one channel, but 15 or 20, some of which were from other countries. There was a sense of freedom and communication. And it was obvious that sooner or later Argentina was going to catch up with this reality. At the time there was only one channel in the interior of the country that was Canal 7. With the cable we could give them 20 or 30 channels including the most important channels of Buenos Aires, some from Brazil or Europe. This was the cable revolution.

-          How did Cablevisión start?

-          By purchasing a small company in La Lucila, province of Buenos Aires. How much did it cost? Nothing…the company was doing really badly and I bought it for the value of the debt.

-          But then it expanded and you even created a multimedia conglomerate…

-          By the late 80’s the cable market was pretty much developed, with 30 signals that then we increased to 60. We bought Radio América, Del Plata, we reached a total of five radios when we bought Del Plata. We had the first TV channel and radio -América- exclusively for news. We also bought El Cronista Comercial, and the television producer company Pramer was also installed, where we used to produce 17 TV channels. We had two newspapers. If fact we became the country’s first multimedia group.

-          Until one day you decided to get rid of the multimedia conglomerate…

-          I had already sensed the eagerness for information the public had, as well as that of interconnection. An interest that continues today, but in a completely different world, much more technologically advanced. That’s why, when I though that the media cycle in terms of business was done, I left. I think I made the right choice.


-          And then you turn to the airports…

-          Yes, at that time I started focusing on the airport world. To master this business I made use of my experience in the textile industry. How do they relate? Well, the textile activity is creative, artisanal and communicative. In this sector many decisions concentrate in the hands of the businessman, this is why this activity provides a mental preparation to see things that any other businessman cannot see.

-          At that moment many services were privatized. Why did you choose the airports?

-          I noticed that the airports were in very poor conditions; they were definitely not places that offered good quality service for tourists; they were somewhat in a rack and ruin state that could be seen in everything, even in the structures of the building. I realized that there was a lot to do in this area. This brought about a transformation in terms of airport system service in Argentina.

-          After having refurbished the airports in Argentina you started exporting the know-how to different parts of the world…

I thought I could repeat this work abroad and I found a globalized world in which everyone competed. The airports also compete against one other and that brings about a decrease in costs, improvement in services and creativity to promote them. In general, the organizations Aeropuertos Argentina 2000 competes with are large and complex structures. These companies have an early expiration date. They put the cart before the horse: they only want to make money, with the lowest possible service. I learnt that money comes when you deliver a good product, not when you eliminate the competition. United, American, Eastern and so many more, bankrupt or filing for bankruptcy, are good examples of how worthless it is to have a great business structure with poor services. After witnessing the failure of these companies, some younger firms have started focusing on quality service and assistance.

-          What’s the future like for Aerolíneas Argentinas?

-          The best thing Aerolíneas can do it to compete. The privilege of a monopoly can never be good, neither for the company nor for the staff. We have what it takes to renew it and have a competitive flag carrier among the leading airlines in the world. The staff is well-trained, we have to do our best. The community will back the capitalization of the airline if they see these improvements.


-          Given your investments in biodiesel we can infer that you foresee a bright future in this area.

-          The biodiesel is an alternative and it is still in the research process. When we started this business, technology was not what it is today, and the price, expensive. In just a few years we made a great process in the yields per hectare, and in the case of ethanol we went from an 8% yield per ton of cane, to 12%. The growing demand for the product triggered technological improvements in order to lower costs amid fast-increasing competition. The same is happening with other alternative energy sources, such as solar, wind or biomass, as well as others that will be developed as the tidal power o the thermal energy. Needless to say, the future belongs to the renewable energy sources.

-          What are the investment projects for the group for 2012?

-          We are planning a number of investments for this coming year. The projects range from mining, oil drilling in the south, extension of the biofuel plant, follow-up of the works in Ezeiza and Aeroparque airports. We predict that the group will invest USD 650 million of its own capital throughout next year, without considering reinvestments.

-          It is said that your group will buy Banco Industrial…

-          We are studying different investment options, among which there probably is some in the financial area, but nothing has been settled as of now.

-          What’s the secret to business success? What are you most proud of?

-          I want my group to be remembered for its versatility, its creativity and its good ideas. We have constantly been changing to be always one step ahead. There are no permanent business activities, for they are always mutating. You need to create possibilities. You need to know when to enter and above all when to leave a business.

-          So, you’re always in the quest for new business…

-          We have always been ready to open new fronts, whenever we are done with some activity. This is thanks to a team, even though I am the head and public face. A qualified team that is always in the lookout of new opportunities.


-          You must have lots of proposals. How do you make the decision to enter a business?

-          We use the put and take spinner (laughing). Seriously speaking, we do our calculations, but decisions cannot be fully rational. There is always a great deal of intuition and also some risk attached to it. There is no businessman that would always make brilliant decisions, or that would always invent things out of nowhere. The most valuable businessman is the one that with effort overcomes his mistakes and the one who leaves the business at the right time. I’m all about trial and error like everyone else.

-          Do you have a “major state” that advices you on your decisions?

-          I do not consider the business organization as a rigid structure. I believe in consulting my ideas with the different areas of the company and their experts. These talks help to shape the ideas. I can say that the decisions are made by a multi-team.

-          What qualities do most value in your advisers?

-          I deeply value the intellectual honesty of my employees, and I am glad whenever I find out that they have not done the things exactly the way I told them. This can always contribute something to me, and if they do as I say to the letter, I would not have any “filter”, which is never advisable for companies.

-          What drives you to keep on working and keep on undertaking projects?

-          Need motivates me to keep on working. There are many in my family, I have a lot of advisers and a large tax burden (laughing). In fact, what I have is a great desire to keep on living life with passion and satisfaction. And for me, happiness means working. Likewise, I am increasingly getting involved in social issues. It is not that I consider companies should solve social problems. I think companies should create jobs, look after their staff and pay taxes. Businessmen themselves should look at what happens around them and do something, but in their personal capacity.


Mr. Eurnekian’s most recent great initiative is the construction of the Bioceánico Aconcagua corridor, planned to establish a new physical connection with Chile, at a cost of USD 3 billion. How did this idea come about? Eurnekian puts it this way: “When I proposed it I was just analyzing the business. Up to 1980 the largest traffic of goods, products and people around the world was monopolized by the Atlantic Ocean. Once South East Asia appeared as a player in the world’s economy, this trend gradually changed. Currently, the volume transported across the Pacific Ocean is 30% above the volume transported across the Atlantic. In 50 years that figure will be twice as much. The only gateway that exists from Argentina to the Pacific is the one constructed in 1910 to transport 4 million tons. If a century later we still have the same operating capacity is because something went wrong. The bioceanic corridor project entails the creation of a 51km-long base tunnel in the Andes; it is a private initiative by a consortium with capital from different countries, so that it can be self-sustained.


-          In 1995 Eduardo Eurnekian sold Cablevisión to TCI for USD 750 million, so far the highest price paid for an Argentine company

-          In August 2011, Corporación América sold its free-shop business in airports of Argentina, Uruguay, Ecuador, Armenia and Martinica, to the Swiss group Dufry (Advent Funds) for USD 957 million.


Corporación América’s main business activities are the following:

-          Airports: Concessionaire of terminals in 49 airports of Latin America and Europe.

-          Infrastructure: Road concessionaire of over 1200 km of routes in Argentina. Constructor of road works, airport terminals and runways.

-          Energy: Biodiesel full cycle plant with projected capacity of one million tons in the coming years.

-          Agro-industries: Over 100,000 hectares, with 20,000 hectares under irrigation, for different crops. 20,000 head of cattle, state-of-the-art genetic technology. Winemaking production, winery.

-          Services: It controls an important bank in Armenia and the postal services in that country.

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Jueves, enero 5th, 2012

Interview with Eduardo Eurnekian in Perfil newspaper

“Mr. Eurnekian considers the Cablevisión issue “should be dealt with in a more discreet manner”.”

Owner of Corporación América and former owner of the paid TV company, Mr. Eurnekian talks about the rules of investment and highlights the continuity of Mr. De Vido. The businessman does not rule out the idea of setting foot in the banking sector and wants to achieve further growth in the oil industry.

In the week in which the State becomes a shareholder of Aeropuertos Argentina 2000, Mr. Eduardo Eurnekian, head of Corporación América -majority owner of the concessionaire of stations, with investments in energy and infrastructure-, ensures that the rules to invest in the country have become clearer after the elections. He also claimed that he will expand his business in the energy sector and does not rule out the possibility to purchase a bank. As founder of Cablevisión, a company he sold over a decade ago, he affirms that the fight between the Government and Clarín “is not in the best interest of the country”.

It was back in 1994 that Eurnekian sold Cablevisión to the American company TCI for US$ 750 million. Interviewed by PERFIL, he distances himself from the dispute between the Government and Clarín, its current owner: “I think this is not in the best interest of the country. The issue should be dealt with in a more discreet manner, Argentina needs investment and due to that it is unfortunate that this has developed into a situation of such a magnitude”.

— What is your outlook on the upcoming year?

—Argentina has a well-defined and clear institutional framework for 2012. It has what it takes to start a new development process: international prices are still convenient; the global crisis seems to have stabilized.

—Economists warn that Argentina will go in for a much slower pace of growth. Won’t this outlook be affected?

—When economists mention it, it is reasonable, because we are recording high rates. Now we will be growing at par with the region, which has 5 or 6% growth; which still is a decent rate.

—What are the best sectors to invest in 2012?

—Oil, mining, gas, heavy machinery.

—Oil and gas prices are regulated and about to be negotiated…

—Indeed. But the important thing is that the rules of the game are becoming clearer. If in the case of oil we know that the price per barrel is x, we will adapt to the business. If large amounts are imported it is obvious that the business will bring about great opportunities.

—What is your viewpoint on the continuity of Julio De Vido?

—I think it sends a clear message, although it shows certain ambivalence in the official policies. Until recently some things were subsidized and now we have stopped doing so. Those are political decisions that do not affect the investment concepts.

—And what about Guillermo Moreno’s growth?

—He is a controversial person. It is a political way of acting. It is a style, but people do not change the perception to invest.

—Would you be interested in growing in the energy sector?

—We are currently negotiating the purchase of a company, whose name I cannot disclose. In this sector we are aiming big, to become an important player.

—And as for banks?

—We are interested, but it is quite challenging since it is a sector that requires profitability conditions that are out of the ordinary. Although the name of a bank has come out, the negotiation is far from complete, besides the regulatory approvals take some time.

Linking the Pacific and the Atlantic

When Eduardo Eurnekian is asked what Corporación América will invest in, the first thing he mentions is the Bioceanic corridor, a crossing that will link Chile and Argentina at a lower height that the existing ones, to guarantee that it is operational all year round. Eurnekian estimates that the works – that include a 52-km long tunnel and the development of an electric train- will increase the 7 million tones of cargo that are transported today between the Pacific and the Atlantic to more than 10 million by 2020, when the works are finished.

The project promises the crossing of the Andes in just four hours.

The Executive is confident that the international call for bids will take place in 2012 and that Corporación América will win the concession.

The project is prepared for a long term expansion, at par with the growth in demand.

Perfil Newspaper 31.12.2011

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Viernes, diciembre 16th, 2011

Eduardo Eurnekian in the Apertura Magazine Yearbook

The businessman forecasts the beginning of a stage of solidification for the local economy.
“The future is brilliant for companies: assets are cheap and conditions for investment are favorable”, anticipates Eduardo Eurnekian. For the entrepreneur, head of a holding with US$ 1000 million annual turnover, and businesses ranging from airports to oil and wind energy, 2011 was a quite intense year.
A few days ago he set foot in Brazil, coming up along with Engervix, a Brazilian company with which he formed the Inframérica partnership. He owns 50 percent of the latter through Corporación América. This is how he obtained the first air terminal contract to ever be granted to private management in such country: he will operate the airport of Natal for a 15 year period and will be in charge of the expansion, renovations and operations of the terminal, with investments estimated in US$ 410 million. His offer, amounting to US$ 106 million, exceeded by over 200 percent the minimum demanded in the bid specifications. And he goes for more. Besides this sector, he is the head of a megaproject of US$1200 million: the Bioceanic Corridor, a tunnel that will link the Argentine railway layout with that of Chile, so that production in both countries will have a gateway to both oceans. “This is the largest communications infrastructure work since 1910, when the Cristo Redentor pass to cross the Andes was opened”, explains Eurnekian. Also this year he started the construction of the second biodiesel plant of another of his companies, Unitec Bio, in the north of the city of Rosario; to this aim he will allocate $300 million -partly financed with a credit from Fondo del Bicentenario.
“In the last years, there has been sound economic growth, now it’s time for a real take off. Cristina’s reelection, marks the beginning of a stage of solidification, of thinking in the long term, with global strategies, analyzing the changes in international policies, because Argentina’s growth will depend on how the whole global pie growths”,  he states. Also, he agrees with the official policy of trimming subsidies, although he makes it clear that he supports this “as long as the funds are reallocated, for instance, towards subsidized-rate loans for housing construction”.
In 2011, besides making acquisitions, the businessman also let go of some businesses. He sold for US$ 957 million the airport free shops –under concession of Interbaires in Argentina- to Swiss company Dufry, controlled by the Advent investment fund. The operation comprises the selling of the duty free shops in Argentinean airports (Ezeiza, Aeroparque, Bariloche, Córdoba, Mendoza), some in Uruguay (Carrasco and Punta del Este), Ecuador (Guayaquil), Armenia (Yerevan) and Martinique, totaling 21 shops in 10 airports. The selling includes Interbaires and IOSC, the wholesale logistics and operations platform for free shops of Corporación América.
When talking about the future of the country, he goes back to the policy: “the outcome of the elections has shown that the population chose in favor of the continuity of the model, giving the Government a chance to lead the country towards a smooth and gradual take off. Now, it’s not the time to go back”, he added. But he warns that “it will by no means be easy and efforts will have to be made”.

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Jueves, noviembre 24th, 2011

Eduardo Eurnekian gives an insight of the importance and magnitude of the Bioceánico Aconcagua corridor, in an article published in the November issue of the G20 magazine.

Bioceánico Aconcagua Corridor Integration for Growth

“Make your life a dream and your dream a reality. Self-discovery comes when a man measures himself against an obstacle”, Saint Exupery.

South America is in need of its own “Panama Canal” to bridge distances, foster regional integration and further its participation in the world economy. Building a fast track is highly required so that the goods produced in Mercosur can efficiently reach Asia, a key player of the changing global economic map.

The Bioceánico Aconcagua Corridor is an initiative developed by Corporación América that will bring the physical and commercial integration of both South American coasts to a new level, narrowing the routes and distances between Mercosur and the Pacific Basin countries.

The original idea was based on the analysis of the global economic outlook, the development prospects for the next 50 years and the need to seek a long-term solution to interoceanic communication that is more direct between South America and the rest of world. The analysis was carried out bearing in mind that commercial exchange generates 40% of the country’s growth in GDP, so this project will lead to an increase in the level of economic activity and the standard of living.

History has proven that a reduction in transport time and costs brings about an increase in exports and a strong inflow of investment.

The project is also intended to free the region of a real Achilles’ heel, since part of the trade between Mercosur and Asia currently depends on the Cristo Redentor Pass, a crossing which has reached its capacity limit and remains closed up to 60 days per year due to snowstorms and extreme winds.

Only 5 million tons a year reach their destination, having to overcome numberless obstacles in the way, which stem from poor infrastructure, severe weather conditions, and geographical incapability to meet a demand that continues, regardless of the oceans or high mountains.

Based on a long-term analysis that sees a progressing Asia, a thriving Mercosur and a promising Africa, a solution has been designed that would reach a transport capacity of 77 million tons over the next 50 years, representing a 15-fold increase in capacity compared to the existing pass.

The corridor comprises a rail system with two 52-km base tunnels that will link Argentina to Chile, and will transport cargo and passengers across the Andes in just 4 hours, as opposed to 12 hours that is the current estimated time.

Besides reliability and speed, the Bioceánico Aconcagua Corridor has a strong positive environmental impact, as it will reduce carbon dioxide emissions to the atmosphere -because of the use of electrical energy instead of fossil fuels. This will contribute to a decrease in global warming, giving the whole project a negative carbon balance.

“In the past distances were greater because space is measured in time”. This thought of Jorge Luis Borges reflects the spirit of the project: opening up new roads to bring continents together.

Today’s world is fully globalized, the borders have gradually become bonds, the cultures have enriched themselves with the mixing of traditions and the differences relate mainly to the time zones, an almost insignificant aspect for a planet in constant motion.

With the technological breakthroughs oral communication is now immediate and this has resulted in a major progress since all players can now communicate directly. International trade has been the first real communication among different cultures and nations, guaranteed by an exchange based on clear and universal rules.

Goods are not just produced in ports or bordering cities. Regional economies bond together and generate their own ways to reach new markets. It is necessary to broaden these links with a view to achieving an articulated production chain that would favor long-term progress and would go beyond any circumstantial ups and downs.

The corridor is an integration tool for all the region and the countries in it. It connects the internal economies and makes them to work in coordination with the aim of connecting with Asia and with the Pacific coast of South America.

This initiative also contemplates the increase in demand and the possibility to generate new traffic among Argentina, Chile, Ecuador, Mexico, Peru, the United States, the Caribbean, Australasia and the Far East.

We think today about tomorrow. The calculations resulting from the different studies carried out to assess the impact of the corridor, forecast benefits in an area of over 3 million sq km, that will influence a population of 126 million inhabitants. This accounts for 48% of the total in South America, which generates 70% of the continent’s economic activity.

These millions of people will be the core subjects of the development that will have to take place in order to facilitate and increase the trade flow. The small towns located along the roads and rails in the countries connected by the Bioceánico Aconcagua Corridor will become service providers for the increasing volume of export transport.

The project is presented within the framework of the Maipu Treaty, conceived as a treaty aimed at physical integration and economic cooperation. It declares the Bioceánico Aconcagua Corridor of strategic interest for Argentina and Chile, and sets a will commitment that ensures the development and implementation of the massive infrastructure works.

For the development of this initiative Corporación América has created an International Consortium of leading companies which includes Mitsubishi Corporation from Japan, Empresas Navieras S.A. from Chile, Contreras Hermanos S.A. from Argentina and Geodata SpA from Italy.

All in all, the Bioceánico Aconcagua Corridor is a reliable, efficient and competitive crossing.

This interoceanic link will bring about a true revolution: South America will turn into a key player in the global economy.

The time has come for a new crossing of the Andes.

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Jueves, noviembre 17th, 2011

The Nur Plan, Eduardo Eurnekian’s education initiative in Nagorno Karabagh, continues its teacher training program. Now, the online stage.

The NUR Plan’s online training stage for teachers in Nagorno Karabagh has already kicked off. The module 2 is currently under way, with 160 teachers enrolled in the Moodle platform developed by Corporación América’s IT team. Practice exercises are introduced weekly for teachers to make use of the different XO applications, and forums are updated with new discussion topics to raise awareness on the importance of incorporating Communication and Information Technologies in the community.

NUR’s main objective at this stage is to train teachers in the pedagogical methods needed to integrate the computer in the classroom, and the use of free software.

Once the teachers have completed their training program (onsite and online stages) and have taken active part in the tasks presented, they will be ready to receive their own computers and incorporate the XO in their classes.

Envisioned by Mr. Eduardo Eurnekian, the NUR Plan is an initiative developed after the One Laptop Per Child (OLPC) concept. The Plan will provide XO computers to 1st to 4th year students and their corresponding teachers in the schools of the Nagorno Karabagh Republic.

The NUR Plan has been implemented with the cooperation of the Karabagh government and the Armenian General Benevolent Union.

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Martes, noviembre 15th, 2011

Eduardo Eurnekian will be awarded a prize by ISALUD Foundation.

Next Thursday, 24th November at 7pm is the ISALUD award-giving ceremony. Event in which Mr. Eduardo Eurnekian will receive the Achievement Award, given in recognition of his donations to the Ezeiza Interzone Hospital “Dr, Alberto Antranik Eurnekian”.

This edition will also honor the work of prestigious professionals from the medical sector, such as Dr. Alberto Cormillot, Dr. Rubén Torres (OPS Washington) and Dr. Carlos Soratti (President of INCUCAI, National Coordinating Center for Ablation and Implants), among others.


Turned into ISALUD Foundation’s trademark, the ISALUD AWARDS recognize the work and commitment of those individuals and institutions that have carried out significant activities or taken efficient actions in the fields of healthcare, the environment, the economy, and society.

The selection entails a careful and thorough analysis of the accomplishments made by the individuals and institutions to be honored. The whole process is developed in different stages.

In the selection stage candidates are voted by prior award-winners, professionals, and current and former students of ISALUD University from all over the country. Finally, numerous plenary meetings are convened, where attendees from the whole academic community assess the achievement and merit of each of the nominees and decide on the award winners.

About ISALUD Foundation

The collective enthusiasm of a group of professionals that in the end of the 80s had relevant participation in the management of the Ministry of Health of the province of Buenos Aires, directed by former Minister of Health of the province, Dr. Ginés González García, boosted the creation of ISALUD (Institute for Healthcare, the Environment, the Economy and Society Foundation).

Led by its mentor, founder and then president, Dr. Ginés González García, ISALUD Foundation began operations on October 29th 1991, always committed to knowledge development and sharing “in relation to all aspects that contribute to human and social health, in its most comprehensive sense.”

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Miércoles, noviembre 9th, 2011

Eduardo Eurnekian to take part in a prestigious Meeting of Leaders

El Cronista Comercial newspaper has organized the forth edition of its traditional meeting of leaders, 4° Encuentro de los Líderes, set to be held on November 22nd in the main auditorium of La Rural, which represents a must-go event for businessmen and executives who seek to be updated on the new economic and competitive ebbs and flows of the country.

It is a face-to-face encounter with the main players of the industrial sector and the most widely recognized political and economic analysts.

Eduardo Eurnekian will participate in the closing ceremony, scheduled to take place at 5pm, giving a talk along with Mr. Fernando González, Director of El Cronista Comercial.

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Lunes, septiembre 26th, 2011

Opening of Zvartnots International Airport New Terminal.

Last Friday, September 16th, an event was held for the official opening of Zvartnots International Airport New Terminal in the city of Yerevan, Armenia. Among those taking part in the special celebration were the Armenian President, Mr Serge Sarkisian, the Catholicos of All Armenians, H.H. Kakerin II, the Argentine-Armenian entrepreneur, Mr Eduardo Eurnekian -owner of Aeropuertos Argentina 2000 and Corporación América, responsible for the new terminal-; as well as ambassadors and top officials.

Mr Eurnekian congratulated on this occasion all those involved in this outstanding achievement for Armenia, and expressed his gratitude to the Armenian and Argentine governments for their cooperation and support in the execution of the project. Next, Armen Gevorgyan, RA Minister of Territorial Administration, delivered a speech, which was followed by H.H. Kakerin II’s blessing. By the end, the Armenian President was given a symbolic gift: a key handed over by those in charge of the organization.

The construction of the new airport partly came true thanks to a loan agreement among Armenia International Airports Company and three other institutions: EBRD, Asian Bank of Development and DEG.

Zvartnots International Airport -Զվարթնոց Միջազգային Oդանավակայան:

Geographically located at the crossroads of Europe and Asia, the airport has turned into a regional HUB, with capacity to handle over 3 million passengers a year.

Corporación América has engaged in the construction of a new departure and arrivals terminal (sterile area) of over 19,000 sq m, stores, VIP lounges and remote boarding positions. The building of the new check-in and arrivals terminal (public area of 30,000 sq m) started back in February 2008.

Both terminals boast anti-seismic technology, smart temperature light control and technology applied to security and customer service. These advanced features have enabled the airport to achieve the highest standards set by international aviation organizations.

General Features of the Project

- New Terminal Area: 34,000 sq m
- New Presidential and commercial lounges
- New Parking: 20,000 sq m
- Total Investment: USD 160,000,000
- Construction started in October 2008 and will start operating in October 2011.

The main objective behind the project is the construction of a new space, next to the standing structure, that will replace terminal 1and will include check-in exits and common arrival areas, to optimize passenger flow.

The design and construction of the new terminal strictly comply with international rules and regulations of international passenger traffic.

- Capacity to handle approximately 3,500,000 pax a year
- International Security: advanced technology x-ray systems, scanners and
automatic control equipment.
- 46 check-in counters with CUTE technology
- Airline offices
- New Customs area
- New baggage handling system: 2,800 pieces of luggage can be handled per hour
(automatic explosive detection)
-Two-storey parking structure for 600 cars.

The core feature of this new terminal is that departing and arriving passenger flows with be completely independent. The innovative design enhances the whole airport complex, with a new, simpler and efficient operating distribution, which will foster sustained growth of the terminals in the near future.

The new terminal in numbers
-1,500 employees
-50 companies
-44,000 cubic meters of concrete
-8,500 tones of steel
-500 km of cables
-20,000 sq meters of glass façades
The total investment required for infrastructure and installations refurbishing amounts so far to USD 320,000,000.


Stage I (2002 – 2004)
This first stage consisted of the renovation of the airport’s old infrastructure, including runway refurbishing and new buildings construction.
- Installation of a new flight information display system
- Provision of new equipment for assistance in landing runways
-Installation of a new and updated automated system for passengers and check-in
- Renovation of parking lots and automatization of vehicle access. Plus, new free
parking spaces
- Full renovation of the two VIP lounges
- Provision of new energy supply substations
- Installation of a new security system which covers the whole airport (around 150
surveillance cameras monitor the airport 24/7)
The Runway
- Full renovation (3850m/60m)
- Installation of new light system
- Building of new drain system
- Renovation of taxi-ways and installation of light system

Stage II (2004 – 2007)
This second stage consisted of the construction of the passenger terminal building in Zvartnots Airport
- Construction started in November 2004 and was completed in May 2007
- New departures and arrivals lounges: 18,500 sq m
- Arrivals hall has 6 gates and 5 air bridges
- Baggage reclaim area has two new carousels.
- Full renovation of fire extinction trucks and installations
- Full renovation of de-icing system
- Full renovation of ground assistance equipment
- Stage III (2008-2011) of the project is currently being completed

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Viernes, agosto 26th, 2011

“Computer to Every Child” program starts in Karabakh.

Initiator of the program is Armenian Argentinean businessman Eudardo Eurnekian. This January Eurnekian and NKR Premier Ara Harutunyan signed an agreement on new education program in the schools of Nagorno-Karabakh.

In September 161 teachers and 3,600 first-graders in Stepanakert and Shushi cities of Nagorno-Karabakh Republic (NKR) will receive laptops within the framework of new educational program called “Computer to Every Child”.

The program is implemented by Fruitful Armenia Fund jointly with the Armenian General Benevolent Union.

The program was developed at the Massachusetts Institute of Technology in Boston. Easily downloadable XO computers are intended for children aged from 6 to 12 and primary school teachers. The laptops with Internet access, with good and affordable software consume little power, are waterproof, thanks to a special USB flash drive can store huge amount of information, have English and Armenian keyboard.

Program’s objective is to raise the level of school education, to link NKR population to the world via Internet. After graduating from elementary school children will keep the laptops.

Teachers will undergo a three-week intensive training course on SUGAR educational programs. This program will be implemented in schools in other cities and villages in Nagorno-Karabakh.

The first program of this kind was introduced in Texas. It was also used in the educational system of Argentina, Peru, Senegal, Nicaragua, and France.

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Viernes, julio 22nd, 2011

Eduardo Eurnekian and Daniel Stamboulian explained how and why they invest in Armenia

Lecture in Cámara Argentino-Armenia.

Two of the most outstanding investors of the South American Diaspora in Armenia, Dr. Daniel Stamboulian, M.D. and entrepreneur Eduardo Eurnekian, gave a lecture in the head office of Cámara Argentino-Armenia (Argentine-Armenian Chamber), with the aim of providing a general outlook and sharing their own experiences.

After 7 p.m., on Thursday 7th July, Mr. Onnig Bogiatzian introduced the lecture attended by a large audience who followed the whole meeting attentively and interacted with the lecturers, developing this topic of great interest.

Mr. Eduardo Eurnekian and his initiatives. The renown Argentine-Armenian entrepreneur gave an overall description, with no need of notes, of Armenian history as he views it, defined as an old and civilized nation that is constantly facing threats of invaders and lack of understanding from its neighbors.

The adoption of Christianity introduced modern concepts which brought together religious faith, the alphabet and the emergence of culture. After a secular bustle, the Decline of the Ottoman Empire at the beginning of the 19th Century, the Armenian people suffered its greatest tragedy, the still unpunished Genocide, and in turn, the enormous challenge of recreating and building the contemporary State in 1918, of going through the soviet era and going towards its independent history in 1991.

The presence of the Diaspora in Armenia has recently become more evident. “Most of us are Argentine and we are concerned about the issues that hinder the full development of Armenia. In a somewhat troubled world, Armenia fails to get the support that would ensure its future. Improving the living conditions of Armenians is necessary so as to prevent emigration from turning into a second genocide,” he claimed.

Mr. Eurnekian acknowledges that his investments are made for a profit, as any company that intends to ensure continuity, and he humbly claims that his charitable contributions consist in investing in the country. He explained that the benefits and drawbacks that businessmen may find are similar to those in Argentina. However, he emphasized that Armenia needs to grow stronger by all means and in an organized way.

Dr. Stamboulian’s programs and achievements. Focused on his commitment to public health through FIDEC, Dr. Daniel Stamboulian has been seeking and making progress for several years now, and thanks to the participation of donors, his team has been able to successfully set up numerous programs.

By way of example, Mr. Stamboulian presented some images to illustrate and speak about the mass vaccination that took place in the year 2007, the training of nurses and professionals in the town of Karakert, achievements in the area of Armavir, to the southwest, and in Tavush, to the northwest of the country, for which he received help from E. Eurnekian, the Ekserciyan family, our dear Eduardo Sarian, and many other Argentine-Armenian benefactors. His team consists of Dr. Pablo Elmassian and Dr. Sarkís Anac, among others.
Dr. Stamboulian highlights the pressing need to help Armenian women, specially those included in the 30/65 year-old group, who lack specific health programs.

Questions and answers. When the most dynamic part of this interesting meeting started, many of the more than a hundred guests asked all kinds of questions. Dr. Stamboulian answered enquiries about a variety of matters, mentioning common difficulties and problems: the high level of abortions in rural areas, the lack of free access to health services, the need to promote professionals of the different specializations and the importance of achieving energy self-supply.

Eurnekian’s replies generated enthusiasm in many businessmen present in the lecture.

He announced his idea to open up, for mass banking penetration and to promote financial services, the over 900 Hay Post branches. He reminded the audience that Armenia has to import most of the raw material needed for industrialization, as is the case of the 4000 million liters of milk that it buys annually from foreign countries.

Likewise, he pointed out that together with the development of his agricultural investments, he experimentally started growing vines in a small number of hectares. Finding top-end wines was a difficult task, so he engaged in winemaking, which turned out to be incredibly successful; so much so that Armenian entrepreneurs in Moscow asked him to directly export grape bunches, to meet the demand of the important Russian market.

On speaking about industries that may lure investors, he claimed that in Yerevan the Armenian restaurants of Buenos Aires would really thrive and the boutique-hotels could have a promising future. He explained that the low wages do not affect costs.

Proposals and commitment. The lecture inspired many entrepreneurs. One of them, another renown benefactor, suggested that there should be a way to create an Argentine-Armenian investment fund to raise small and medium sized capital.

Many in the audience requested the Chamber to take matters into own hands. The Armenian Ambassador, Vladimir Karmirshalyan, said that progress in various economic fields has been made. The two speakers received commemorative plates as a memento of this meeting. The gathering finished with a reception, where talks continued.

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Jueves, junio 2nd, 2011

CC launches G20 Advisory Group for CEO input to Heads of State.

Business leaders and CEOs from major global corporations convened at the International Chamber of Commerce (ICC) in Paris today for the inaugural meeting of the ICC G20 Advisory Group, a global business initiative aimed at delivering policy input to the G20 process.

The ICC G20 Advisory Group is channelling its efforts ahead of the G20 Summit – being held in Cannes, France, on 3-4 November 2011 – to introduce a set of policy views representing the priorities of businesses worldwide, both large and small.

“The G20’s expanding policy agenda directly impacts business’s core goals for trade, economic growth and job creation. We must establish an ongoing public-private partnership to ensure that the input and priorities of companies driving the world economy are better reflected in government resolutions”, said ICC Vice-Chairman Harold McGraw III, who is also Chairman, President and CEO, The McGraw-Hill Companies.

ICC has established the G20 Advisory Group, comprised of CEOs, to effectively target G20 policy development on a global scale. The group aims to establish an enduring, legitimate voice of global business – eventually recognized by the G20 governments as the primary source of business expertise on the global policy agenda.

“We want to press for the inclusion of business views in deliberations by G20 Heads of State and to introduce fresh ideas and innovative programmes to support open trade, economic growth and employment,” said ICC Secretary General Jean-Guy Carrier.

ICC has a long history of providing business views into forums like the G20. Starting in 1990 at the Houston G8 Summit, ICC’s Chairman has met annually with G8 host Heads of State – enabling ICC to input the voice of world business. Ahead of the 2009 London G20 Summit, then-Prime Minister Gordon Brown invited ICC to take a lead role representing global business to the G20, a role that expanded in the lead-up to the G20 Summit in Seoul in 2010, when ICC contributed policy recommendations and led working sessions at the G20 Business Summit.

“As the world business organization, ICC is well placed to provide concrete feedback to governments, encouraging them to take into account business objectives such as promoting trade liberalization and cross border investment,” said Gerard Worms, ICC Chairman and Vice Chairman of Rothschild Europe.

To this end, ICC is mobilizing its policymaking expertise, drawn from companies of all sizes and business organizations around the world. The G20 Advisory Group is able to leverage ICC’s vast business network in more than 120 countries, as well as the diverse wealth of experience and insight the CEOs bring.

“This is an exciting and powerful new opportunity for business. The issues on the agenda are crucial to ICC, and the time has come for business to play a much stronger role in the G20 process,” Mr Worms said.

ICC is building an enduring platform aimed at generating solid policy work before, during and after the G20 Summit events – from France to Mexico and beyond. The ICC G20 initiative is a consultative process on a truly global scale.

CEOs on the ICC G20 Advisory Group include:
• Corporacion America – Eduardo Eurnekian, Chairman and CEO
• Daesung – Young Tae Kim, Chairman
• GDF Suez – Gerard Mestrallet, CEO
• Great Eastern Energy – Yogendra Kr. (YK) Modi, Chairman and CEO
• Hanwha – Seung Youn Kim, CEO
• Infosys – S. Gopalakrishnan, CEO and Managing Director
• Li & Fung – Victor K. Fung, Chairman
• The McGraw-Hill Companies – Harold McGraw III, President and CEO
• MK Sanghi Group – Mahendra Sanghi, Chairman
• Nestle – Paul Bulcke, CEO/Peter Brabeck, Chairman
• Qatar Chamber of Commerce and Industry – Sheikh Khalifa Bin Jassim Al-Thani, Chairman
• Rothschild Europe – Gerard Worms, Vice Chairman
• Royal Dutch Shell – Peter Voser, CEO
• SEB – Marcus Wallenberg, Chairman and CEO
• Telefonica – Cesar Alierta Izuel, Executive Chairman
• Zurich Financial – Martin Senn, CEO

The G20 Advisory Group policy work has been shaped to concentrate on the 2011 agenda of G20 issues as set by the host country France, as well as on priorities the Advisory Group wishes to see addressed. These are:

• Trade, investment and development
• Strengthening financial regulation
• Fighting corruption
• Reforming the international monetary system
• Reducing commodity price volatility
• Green growth

Global business input on these issues will be delivered to G20 leaders starting at the government “Sherpa” level in the lead-up to Cannes. ICC will unveil these policy positions as the meetings unfold.

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Lunes, abril 18th, 2011

Interview with Eduardo Eurnekian, by Diana Dergarabetian

According to plans, Mr. Eduardo Eurnekian kindly received me once again, this time to speak about Armenia. But the events unfolding in the Middle East over the past several weeks and the final ruling issued by Judge Oyarbide are unavoidable topics in this talk that developed as follows:

- Considering all that you have done in and for Armenia, I can remember with great proud and satisfaction that in 2000, you were named “Man of the Year” by SARDARABAD. Such honor was awarded to you for your outstanding contributions to the Armenian National Fund and for the updating of the National Television’s equipment, so that it keeps up with modern times, in the aftermath of the declaration of independence. After this, you offered your own private plane to transfer the relics of Saint Gregory the Illuminator all the way from the Vatican to Armenia. On returning to Yerevan -and almost still at the foot of the plane in Zvartnótz, you made the commitment of renovating the Armenian airport, with the then president Robert Kocharian. Since the year 2000, we’ve been witnessing new and significant undertakings, all of which have had a profound and positive impact on the development of Armenia: the airport, Tierras de Armenia, Converse Bank, the post office, Echmiadzín School -which is named after your parents…And when we thought that you had covered almost every imaginable aspect, a new piece of news surprises and amazes us greatly: the One Laptop Per Child program in Karabagh. All this is already very impressive, but by knowing you I can tell that your work in Armenia does not end up there; maybe there is still something new that will surprise us, isn’t it?

- That will depend on the circumstances… The recent ruling by Judge Oyarbide opens up a whole new world of opportunities for the Armenian: in the first place, we are faced with the historical recognition of the facts and consequences that affected the Armenian population during this tragic period (1915 – 1923). Even thought it was only a few days ago that we attended the reading of the relevant ruling (April 6th, 2011) and it will still have to be read carefully and in depth, for the moment I think that we can envisage the reconstruction of each family’s past and from there, start working on the redressing of their rights. Likewise, it is necessary that both States can settle their differences in a conducive and natural way, relieved from the burden of individual claims, which can eventually be solved via judicial processes.

- That is crucial for Armenia and particularly convenient from an economic and commercial point of view, and in relation to opening up to new markets worldwide. Do you see it from this point of view?

- In my opinion, it is unthinkable that a conflict of this nature can last throughout time. Armenia and Turkey are neighboring countries and the hypothesis of conflict on territorial grounds has been completely excluded. The borders have already been defined; history has done it. History is the past and the present. Due to the ongoing breakthroughs in communication systems, the interrelation of global connections can overcome any physical or political border. In this sense, it is possible that one day Mount Ararat will end up being a link between both countries. Together with the emotional value it has for the Armenian, it will be recognized as a visible symbol of brotherhood and solidarity between the nations.

Since you mentioned the Ararat and given its proximity to the wineries of “Tierras de Armenia”, located in the valley, I’d like to ask you how the wine production is going.

- We’re extremely satisfied. Last year we produced an exceptional wine, which we’re going to repeat this year. It’s an amazing wine! (He states, longing for a taste that seems very familiar to him…) We’re very pleased with the results obtained in “Tierras de Armenia. If Armenia is the mother of viticulture, where wineries have been traced back six thousand years… it is perfectly possible for this land to make today the best wines in the world!

- In order for this land to produce the best wines in the world, a huge investment was needed. You saw that possibility and necessity, set up the project, executed it…and now the benefits are reaped. Personally, I don’t think Armenia, after its independence, would have been able to reach this position without an investor and entrepreneur that would give it a boost.

- Well, but we, Armenians are very active and eager…

- What’s the name of the wine? Has it been christened yet?

- Not yet, but we’re still trying to find a name that will honor its marvelous grape varieties. We’re talking about some exceptional Syrah and Chardonnay. There is also a Tannat, but I have greater expectations for the Syrah.

- Is the Syrah a variety that the Armenian like or is it new to them?

- Actually, the Syrah is a very old variety in the region.

- Do you mean to say that we’ll soon see it on Armenian tables and hopefully on the Argentinean…?

- Although there are some excellent wines here, it could be interesting to experiment the expression of homeland’s terroir in these lands. Why not? It’s highly possible.

- Is there any news on the new Zvartnótz airport Terminal that you would like to share with our readers?

- Indeed, the new terminal will be inaugurated on August 9th. As for the old circular building, we’re already turning it into a business center and the next step will be the construction of a hotel in the airport. Afterwards, the free trade area will be developed. Next May 25th we’ll inaugurate the cooling room, a refrigerated room in the cargo area to export foodstuff (fruits and vegetables). The aim is that local farmers have the opportunity to export their products while keeping their prices steady throughout time, I mean, even outside the peak harvest season. In this way, producers will obtain more stable prices; will be more protected and will obtain a better return for their work and efforts. We have committed ourselves to the project of building this type of cooling room, and we have complied with it.

- How does the system work? Can the producer -small or large- go directly to the cooling room or do they have to go through a kind of Central Market?

- The producer will be able to do it directly: they can deposit part or all of their production in the cooling room, obtain a bank loan, be paid for their products and, when these are sold, two or three months later, the bank gets its money back and the producer keeps the difference. In substance, it is a financial mechanism.

- Are the people in Armenia ready for this concept?

- We have been discussing this topic in Armenia for some time now, the need to typify the products and work on a “packaging” system that would meet the needs of the most demanding markets. We’re constantly working to reach that goal, pursuing the continuous improvement of quality and capacity standards. After the set up of the first cooling room, there will surely be larger production line volumes with international standards by synergy effect.

- What do you actually mean by “typifying”?

It means adjusting the work of different farmers to a common standard: for example, that all of them grow onions at the same time, with the same quality, size, flavor, weight, etc.

- Armenia will then be open to endless opportunities that the small producer would never even have thought of…

- Undoubtedly, this will bring about endless opportunities. The small farmer is currently meeting the demand of the domestic market. We want the farmer to see the possibilities of satisfying the international market as well and that requires funding, having a different perspective on business, becoming a competitor in the international marketplace.

- Recently, there have been numerous articles on rural tourism as a considerable factor for development in Armenia. What’s your view on this issue?

Armenia is a small country, which is well developed as for the road infrastructure viewpoint. It is inexpensive and this clearly favors investment. Firstly, it is necessary to open the country to investment, in order to foster the construction of hotels of different levels (large and medium-sized hotels, boutique hotels). Tourism requires the right hotel offer, so convenience, comfort and service quality are basic concepts to be fulfilled. I am confident that the resources needed, will be developed in the middle term. Armenia is on its way and it is most necessary to continue putting the country in order. Putting the country in order also means ordering it politically. Armenia needs to draw conclusions from the events that occurred in the countries of Northern Africa. In modern States there are two indivisible elements: the free exercise of democracy and the fight against corruption.

If Armenia really wants to enter the world community, it will have to follow the path of democratic deepening while keeping a firmer attitude on circumstances that may endanger the seriousness of the system in all respects. The fight against corruption demands the setting of a framework of predictability in the country, without which it will fail to obtain the necessary investment to reach stability and progress. Following the example of the most well-positioned countries, Armenia should separate from the political instability and judicial unpredictability of its regional environment. Armenia should move towards a culture of ethics, strengthening its institutions so that they can have an active role in the prevention, detection and punishment of irregular activities. Although in relative terms Armenia is one of the countries with the lowest corruption level, the protection against it constitutes a mission and an unavoidable challenge in favor of the rule of law. New guidelines are to be established so that the society will feel more satisfied and assured. The country has an intelligent administration, competent, with clear vision on the future, but it should be in constant alert for certain issues that are of crucial importance before the eyes of the world.

- One of your latest works, providing each child in Karabagh with a computer, is an indication of a serious and solid bet on the future. What’s your opinion of the peace process in Karabagh? How do you see it? Do you think a solution is possible?

- I trust the initiatives that have been carried out. Both governments have continuously committed to solving the conflict. There are mechanisms for that. Then, it is expected that the international context will contribute to forging a peace process in the region as soon as possible.

- How do you see Armenia from an economic point of view?

- From an economic viewpoint Armenia is just another competitor in the international community of nations. Its main challenge is the protection of democratic values and the development of comprehensive awareness on the destructive power of corruption in all aspects of the life of a State. As long as these facts come into being and are complied with reasonably, Armenia will progress day after day, open to the world.

Clear and precise, these were the statements of the businessman, who has enough moral authority to tackle difficult and concerning issues such as corruption and social stability, since he daily generates new business opportunities in Armenia, and with them, he contributes to the country’s economic development. It is always an honor and a real pleasure to interview him.

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Jueves, enero 27th, 2011

One Laptop per child in Karabakh

The Prime Minister of the Republic of Nakorno Karabagh, Mr. Ara Harutyunyan and Mr. Eduardo Eurnekian, an internationally recognized Argentinean-Armenian businessman signed a memorandum of understanding, launching the implementation of the One Laptop Per Child (OLPC) program in Nakorno Karabagh (NKR).

OLPC is an educational program developed at MIT (Massachusetts Institute of Technology) in Boston, Massachusetts. OLPC develops state of the art laptop computers, which are equipped with advanced educational software for students in developing countries.

The program is aimed at providing laptop computers to elementary schools in Karabakh and connecting them to the Internet through wireless networks to be installed in their facilities.

The Government of NKR has welcomed Mr. Eurnekian’s initiative with great excitement and incorporated the OLPC program in its educational system. The Government has also committed to make telecommunications interconnection available in all schools, in order to enhance the educational impact of the OLPC program.

Mr. Eurnekian has asked the Armenian General Benevolent Union (AGBU) to assist in the implementation of the project. AGBU, the biggest non-profit Armenian organization of the world, have undertaken the responsibility of providing the necessary on-the-ground support to ensure the success of the OLPC project.

“The world community sees Nakorno Karabagh within the context of war and regional conflict. People fail to take note of the children who are born and live there. These children are entitled to the universal right of education and access to information” said Mr. Eurnekian.  “Through OLPC, I intend to bridge the gap and give the children of NKR the opportunity to receive the best education the world has to offer” Mr. Eurnekian continued.

After signing the Memorandum of Understanding, Mr. Ara Harutyunyan, Prime Minister of NKR declared that the education of its school age children is a priority for the Government and a significant part of the State’s resources is directed towards building and renovating schools.

“The people of NKR thank Mr. Eurnekian for introducing and financing a powerful educational tool to the school system” stated Mr. Harutyunyan. “This is a capital investment in our future and its positive impact will be enjoyed in the decades to come” Mr. Harutyunyan continued. 

During his meeting with Mr. Harutyuanyan before signing the Memorandum of Understanding, Mr. Eurnekian emphasized that it is the obligation of the world community to make sure that all children in the world have access to education and information. He further emphasized that Armenians around the world, individually or through organizations, must contribute to the cause of educating the future generations of the nation. “Today, I intend to plant the seeds of an international effort to integrate the children of NKR in the world community. They deserve receiving proper education and access to the world of information,” stated Mr. Eurnekian.

At the conclusion of his meeting with the Prime Minister, Mr. Eurnekian agreed to support several other development programs in NKR, including providing financing to small farms, making modern agricultural equipment available to farming enterprises, helping develop bioenergy resources and enhancing the meat and dairy production in the territory. 

Before leaving the signing ceremony, Mr. Harutyunyan stated “I am certain, that today, we laid the foundation for a long term cooperation between Mr. Eurnekian and the Government of NKR, which will evolve over time to incorporate our compatriots in the Diaspora and Armenia in the effort to provide a dignified life to the citizens of NKR, young and old.”  

Mr. Eurnekian, in his turn, stated “ The children of NKR deserve what I am trying to extend to them. I thank the AGBU for accepting my invitation to join the project. I hope that together, we will be able to achieve success in NKR and expand the project to Armenia with the support of the organization’s global network”.

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Miércoles, diciembre 22nd, 2010

Eduardo Eurnekian sounds out the possibility of engaging in the Chilean mining sector

The Chilean experience in mining production has drawn the attention of one of the major Argentine executives. With businesses in the airport, energy, and retail sectors, among others, the president of Corporación América, Eduardo Eurnekian, could well add further investments in the mining sector to his portfolio. Moreover, he would do so in Chile. “We want to begin in Chile and then transfer the experience gained to Argentina (…) and then trigger our mining career in the country,” he said. “Chile is for us an example of how intelligent and rational mining is to be conducted with the participation of both the State and the private sector.”

The executive has been in Chile this week to present a book of letters between O’Higgins and San Martín. There he said he has been in contact with “Australian companies and Chilean mining companies with a view to acquiring a minority equity share.” Yet, he also added, “We want to have a share in a consortium to gain experience.” Even though he makes clear he is just having discussions on the topic, he ratifies he does not seek to make an investment in copper exploitation. “That mineral is well exploited so far, and there are other minerals left aside by the growth in the copper sector such as molybdenum, and the like,” he stressed.

Energy transportation

The energy sector is another area that has drawn Eurnekian’s interest in Chile. Yet, without being specific on the subject, he ensured he has participated in several bids, “yet, unfortunately, we could not make it.” This time, the executive is not focusing on a specific investment, but on a joint energy transportation project.

In August, Eurnekian got the preliminary award for the Cóndor Cliff-La Barrancosa hydroelectric project in the southern region of Argentina. Once complete, it will generate 1,750 MW. According to the executive, the contract is to be signed next week. “With this project, we will certainly need to transport energy to the north, and this is the area in which we could embark on a joint work effort with Chile,” he said. Moreover, he asserted he has had meetings with representatives from the Chilean private sector. “We are having meetings. The common interest to generate energy brings about comparative advantages that foster a union, particularly if we consider that both countries are developing important projects in their southern regions.”

The executive expects to see a main trunk energy line that could supply energy to each country. According to Eurnekian, the project would begin to show the first signs of progress next year.

The executive is mainly engaged in airport operation, a sector in which he manages nearly 43 terminals in different countries. They include Ezeiza Airport, in Buenos Aires; seven terminals in Peru; and the first environmentally friendly airport in Galápagos.

Eurnekian asserts he would like to add the terminal at Arturo Merino Benítez Airport in Chile to his portfolio. “Should new opportunities appear in Chile, we would certainly be interested and willing to participate,” he highlighted.

The executive is also engaged in the biofuels and retail businesses, in this latter case through the operation of some duty-free shops. In addition, he also has a stake in the pharmaceuticals business, with San Roque chain in Uruguay.

Bid for a corridor joining Chile and Argentina to be called for next year
Eduardo Eurnekian is the engine that has driven the Aconcagua Biocean Corridor, a project envisaged by a private multinational consortium made by Corporación América, Mitsubishi, Empresas Navieras, and Geodat. The project will connect Mendoza and Los Andes through a 204-kilometer long railroad and a 52-kilometer tunnel (the third largest worldwide). The initiative will demand an investment of USD $3.0 billion and will connect both cities in just four hours. Besides, it will allow for the transportation of 70 million tons a year.

“Right now, we are in the process of completing the required geological studies as to present them in March,” Eurnekian pointed out about the project. “All deadlines have been met. There is no delay.”

After presenting the conclusions, the project would be ready for the bidding process, where all the interested companies will be invited to participate. Eurnekian believes the entire process could be completed during the first semester, when the Binational Consortium – the body made by the Ministers of Public Works of both countries – should officially call for international bids.
Eurnekian ratifies it would be difficult to determine when construction could begin. “If we are the successful bidders, we would have certain advantages on our side, because we are more familiar with the prevailing conditions and with the project itself,” he said.

Source: La Tercera

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Jueves, noviembre 4th, 2010

Eduardo Eurnekian was named Man of the Year

The Armenian General Benevolent Union – AGBU, honored the Argentine entrepreneur with the Boghos Nubar award during its 86th anniversary gala in Buenos Aires.

Eduardo Eurnekian, president of Corporación América, was awarded a prize by AGBU for his dedicated work in the Armenian community and his outstanding business career. The prize was presented last Friday October 15th, during the 86th anniversary celebration of the organization that took place in the Four Seasons Hotel in Buenos Aires.   

AGBU -the world’s largest Armenian non-profit organization-, reserves this distinction for an exclusive group of people that significantly contribute to the Armenian nation from different countries around the world. In the last decade only three businessmen were recognized with this prestigious award: Patrick Devedjian from France (2003), Serge Tchuruk from France (2005) and Vatche Manoukian from the United Kingdom (2009). 
Home to a large and vibrant Armenian community, Buenos Aires is a natural setting for AGBU’s 86th General Assembly, which is a biennial event that brings together AGBU leaders, chairpersons, and members to discuss the organization’s continuing work in the fulfillment of its mission to preserve and promote the Armenian heritage around the world. Buenos Aires is also the hometown of Eduardo Eurnekian, who is a leading figure in the city’s 80,000-strong Armenian community.

A visionary businessman, Eurnekian was named Business Man of the Year 1995 in Argentina, and in 1999 he received the “Leonardo Award” from the Italian government, which is given to the leading foreign businessman. In September 2001, he received the “St. Gregory the Illuminator Order” medal and the decoration of “St. Mesrob Mashtots” from the President of Armenia, the highest decorations given in that country.

After receiving the award Mr. Eurnekian highlighted: “I am extremely proud to receive this distinction from the centennial and historical Armenian General Benevolence Union… and I am most humbled. As I said, I am proud to receive this recognition due to the reputation and standing of the awarding institution. The AGBU was created in tough times of Armenian history, a stateless country, with a disoriented and confused community which was forced to emigrate on grounds of a systematic and merciless persecution.
The history of our time clearly displays the role that AGBU has had in building the Republic that we embrace today.
As for me, the man behind the prize and distinction, I will say I have only done my job. The true receivers are not here with us today, they are my parents, who successfully instilled in us a great love and respect for the new nation that adopted them.
The Republic of Argentina kindly offered them peace, work, progress and education for their children, which inspired in them a deep feeling of gratitude.
Our parents taught us to be and live as citizens.
To respect and be respected.
To be part of a whole, while proudly maintaining the differences that distinguish us.
With our own and vast experience plus, our predecessors’ hard pursuit of a better future, we have good reasons to continue setting examples of peaceful and productive coexistence between peoples.”
In turn, Mr. Berge Setrakian, president of AGBU General Council, pointed out that: “Eurnekian is a gifted and motivated businessman who keeps up with the times; at the same time he shows great love for his Homeland, love for his Nation and love for the church. Thus, we gladly choose to give Mr. Eduardo Eurnekian the well-deserved award of “Man of the Year” of the Armenian General Benevolent Union.” 

Eurnekian was born in 1932 in Argentina. He began his career in the textile industry, like many Argentinean Armenians, and built one of the most important companies in that sector in the country.

In the early 1980s, Eurnekian purchased the bankrupt Cablevisión S.A cable TV station and transformed it into the largest private cable TV company in Latin America, with over a million subscribers. He later sold the company for $750 million, and the deal became one of the largest transactions of the 1990s in Argentina.

In 1998, he formed a consortium called Aeropuertos Argentina 2000, and he was awarded a 30-year concession to operate 33 of Argentina’s airports -including the two main airports in the region, Ezeiza and Aeroparque. He has since expanded his business internationally to incorporate major airports in Uruguay, Ecuador, Italy, Armenia, and, most recently, Peru.

In agribusiness, Eurnekian owns the largest expanse of artificially irrigated land in Argentina and of great cattle production. He recently formed a new company, “Tierras de Marruecos,” which will explore the development of Morocco.

During the last decade, Eurnekian began to take an active interest in Armenia and its future. In 2001 he started the renovation of Zvartnots International Airport. His company, “Tierras de Armenia,” works to promote agribusiness in the nation, including a focus on fruit and vegetable production in Arevatashd, just 60 km outside Yerevan. He also sponsors “Fruitful Armenia,” a non-profit organization which annually brings together various Armenian companies and organizations in an effort to promote agricultural growth, boosting sustainable micro-business. In 2006, Eurnekian acquired the third largest bank in Armenia, Converse Bank.

Eurnekian also has significant assets in the retail, energy, and transportation sectors. In 2009, he began to expand into the grape and wine-growing industry and entered into a partnership with Bodega del Fin del Mundo.

The Armenian General Benevolent Union, which has always encouraged philanthropy and an active involvement in Armenian community life, will honor Eurnekian in appreciation of his commitment to bettering the lives of Armenians.

Established in 1906, AGBU is the world’s largest Armenian non-profit organization. Headquartered in New York City, AGBU preserves and promotes the Armenian identity and heritage through educational, cultural and humanitarian program, annually touching the lives of some 400,000 Armenians around the world.

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Jueves, noviembre 4th, 2010

Speech Before the AGBU 86th General Assembly

October 15th, 2010 Buenos Aires
Mr. President of the Armenian General Benevolent Union, and Dear Friend, Dr. Berge Setrakian;
Ladies and gentlemen,
Dear Friends.

I am proud to receive this award from the century-old, historic Armenian General Benevolent Union…and sincerely humbled.

I say I am proud to receive it, because of the prestige of the Institution awarding it.
The AGBU was created at a difficult time in the history of Armenia, a country without a State, with a community that was disoriented, confused, and forced to emigrate after systematic and fierce persecution.

Visionary men made it possible to set up an Institution that allowed Armenian expatriates to live through the period of awaiting the creation of a free, sovereign and inclusive State.

The Institution was, thus… a symbol of hope.

Its members spread our culture, our language, our ideals, our struggles, our history… our customs.
Gathered in churches, schools, orphanages, and sports and cultural centers, they turned into ambassadors spread out around the world. 

The history of our time is a clear manifestation of the role that the AGBU played in the construction of the Republic which we embrace today.

As for myself, the recipient of this award and distinction, I must state that I have only done my everyday duty.

Those who truly earned it aren’t here today: they are my parents.

They instilled in us a profound love and respect for the new fatherland that sheltered them.

They divided their roots, and even as they became firmly established in the new land, we learned to preserve and love the essence we inherited through our blood.

A new fatherland, a new home, that is what Argentina was for my parents.

Argentina offered them peace, work, progress, and education for their children, generating deep feelings of gratitude in them.

Our parents taught us to be and live as citizens.

To give and receive respect.

To be part of a whole, but preserving pride in the differences that mark us.

We projected our culture to others whom we also regarded as our brothers.

On the basis of this mutual respect, we acquired an education whose corollary has been – and continues to be – honoring human dignity, a fundamental step towards the so-called contemporary globalization.

We know how to build bridges that help circumstantial passions and divisions to be overcome.

We know we are in possession of an undying driving force, capable of getting us across our own deserts and the deserts of our time.

Building the Republic of Armenia from exile, uniting and enriching it through the contributions of the subcultures (shaped in the Middle East, Russia, the United States, Europe, Latin America), is a task for giants.

A shrinking world implies a dynamic coexistence, which brings together different customs, habits… in a word, cultures.

We Armenians – who have subsisted for almost ten centuries without a State – know this.

What greater globalization is there, than the one it was our lot to undergo during those ten centuries among different peoples, different ethnic groups, different religions, different cultures?

With the sum of our own experiences, and our forefathers’ sacrifices in pursuit of a better future, we have good grounds to continue setting an example of peaceful and productive coexistence among peoples.

We are aware that there is still much to be done.

We are aware that the task has only begun.

And this is why this gathering bringing us together tonight is so important.

Today it is worth remembering the call issued by Berge in his speech to the AGBU General Assembly in Yerevan, in 2004, when he said, “we must live with our thoughts set on our collective responsibility to promote and preserve our inheritance,” adding, “… on that basis, I ask each of you what you can do to mark a difference in the life of the Armenia of tomorrow.”

We have a history and remembrance – it is our duty that they not wither among future generations.

Congratulations to the AGBU

Congratulations over its extraordinary work.

My recognition to its founders’ great vision.

Congratulations to Mr. Berge Setrakian for his intensive work… and again, many thanks to you all for this distinction and this award.

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Lunes, septiembre 6th, 2010

Unitec Bio to build new biodiesel plant


Unitec Bio, part of Corporación América, will make a significant investment to build a new biodiesel plant which will produce 220,000 tons of fuel aimed at satisfying the domestic market, in an attempt to fill the lack of gas oil that is currently being imported. It is estimated that the plant will start its production during the second half of 2011.

With a view to confirming its leadership in the regional biofuel market, Unitec Bio, member of Corporación América, will invest 70 million dollars in the construction of a new biodiesel plant that will process 220,000 tons of fuel.

The new mega plant will be built next to the existing plant in Puerto General San Martín (Province of Santa Fe), in a piece of land comprising 15 hectares. The works will start at the beginning of 2011, with production expected to begin in the second half of the year.

The features and capacity will match those of the plant opened in 2008. The new plant will be used to meet domestic demand and enhance the energy matrix in Argentina.

At present, the plant from Rosario is working at full capacity, exporting 10,000 tons a month and meeting the obligatory demands with further 10,000 tons. The new state-of-the-art plant will also be aimed at filling the lack of gas oil, that currently has to be imported, and replacing it for biodiesel to satisfy the local market.

Unitec Bio is connected through pipes to Terminal 6, a company that supplies raw material (soybean oil) for biodiesel and provides port services for exports.

Likewise, Unitec Bio is investing in research to improve the ratio between used energy and carbon in the atmosphere. This study positions the company as a leading enterprise in a market that is in full expansion and development.

The research activity is carried out with the conviction that biofuels help to protect the environment, have a positive effect on our economy and reduce the dependence on oil.

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Viernes, agosto 20th, 2010

The Cóndor Cliff-La Barrancosa pre-award has been settled


The consortium, made up of Industrias Metalúrgicas Pescarmona (IMPSA), Corporación América and Camargo Correa, has pre-awarded the construction of Condor Cliff-La Barrancosa hydroelectric dams, in the province of Santa Cruz, which requires an investment of 16,000 million Argentine pesos, as officially announced yesterday.
The National Government has decided to pre-award the construction of Condor Cliff-La Barrancosa hydroelectric dams, which shall be built on Santa Cruz river, to a corporate consortium formed by local firms: Corporación América and IMPSA and by the Brazilian company: Camargo Correa.

Argentine President, Cristina Fernández, joined by Governor Daniel Peralta, headed the Hydroelectric Complex pre-award meeting, which is to generate 5000 GWh of energy per year, with an installed power of 1740 MW, in the center of the province.

The meeting was also joined by Federal Planning Minister, Julio De Vido, the mayor of Puerto Santa Cruz, Pedro González, and the mayor of Comandante Luis Piedra Buena, José Bodlovic, the Chief of the Cabinet of Ministers, Pablo González and the Minister of Production, Jaime Álvarez. The proposal investment for these future dams amounts to 16,000 million Argentine pesos in a five year term.
One of the main points of the decision adopted by the President yesterday is that these new hydroelectric works will seek to strengthen the diversification of the primary national power matrix, and will contribute to put an end to the power isolation that Santa Cruz has suffered for decades.
The work plan consists of, in the first place, the construction of the Condor Cliff dam, with power of 1140 megawatts, and, in a second term, the La Barrancosa dam, that will have a power of 600 megawatts, which together will add 1740 megawatts to the national power system.
Both plants are located in the south-central region of this Patagonian province, on Santa Cruz river.

In February, three consortiums submitted their tenders for the construction of the Hydroelectric Complex in the province of Santa Cruz: IMPSA-Corporación América-Camargo Correa (which resulted pre-awarded), Electroingeniería-IECSA-José Cartellone; and Roggio-Esuco-Supercemento.

Once the meeting had come to an end, the Governor of Santa Cruz expressed his satisfaction with the experience and expertise of the consortium and pointed out that: “it is an international corporate consortium, with massive capacity in this type of works and with the necessary infrastructure to foster and develop two dams the size of Cóndor Cliff and La Barrancosa. We believe that these companies have great experience and we consider that this process will be carried out rapidly. The team of the Ministry of Production of the Province together with Federal Planning will continue to work hand in hand, ensuring us that the terms will be complied with for the good of our people and our country”.
The Governor also stated that: “We believe that these colossal works will trigger great social mobility. The complex will have enormous historical impact as it will permanently change the roots of our province. We have committed ourselves to a province seen as an industrial model, which shall include industrial salaries and potential development in electro-intensive industries.”
According to estimates from the province leader, the award is going to take place in sixty days and the works are going to start in ninety days, and he announced that “in two months we are going to hold one of the most important institutional acts in the history of Santa Cruz, where people will have the opportunity to listen to the Argentine President and thank her for all the objectives accomplished and the ones which are to be accomplished, like the creation of thousands of job posts, greater social mobility, and an increase in the activity of our small and medium sized companies and our local and regional firms”.

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Martes, agosto 3rd, 2010

Undertaking as a philosophy of life


As one of the leading entrepreneurs in Latin America, Eurnekian analyses the pillars of growth of Argentina’s future.

IPS: Corporación América is heading the consortium that is currently devel¬oping the Central Bioceanic Corridor, a mega project that rivals the Panama Canal in magnitude. As the CEO of Cor¬poración, what drove you to undertake such a venture?

Eduardo Eurnekian: It is impor¬tant to consider the physical openness of borders and its role in enhancing the achievements that mankind has attained in terms of communications. In the case of the Central Bioceanic Corridor, we took into account the strategic im¬portance of the Pacific Rim within the framework of the global economy.

This project, which has an initial investment of $3 billion, will connect the towns of Lujan de Cuyo in Argentina with Los An¬des in Chile through a railway stretching 52 kilometers across the Andean Range and at 2,300 meters above sea level.

When ready, the Corridor will enable Mercosur [the common market formed by Argentina, Brazil, Paraguay, and Uruguay] to have access to Asian markets such as China and Australia as well as to the Western Coast of both Mexico and the U.S.

This access will be achieved at a remarkably lower cost and at a lesser risk that Andean climate conditions pose. Currently, Chile and Argentina exchange
7.5 million tons of goods on a yearly basis through the terrestrial Pass of Cristo Redentor, which remains closed to traffic two months every year due to adverse weather.
The Corridor’s influence on the region’s economic and social develop¬ment will be quite significant. Regionally, it will bring huge benefits to an area that represents 70% of all economic activity in the continent. Globally, it will become a direct, safe, and energy-ef¬ficient route that will stimulate demand and consequently spur the development of markets. In the long run, this logistics and transportation system is expected to serve an initial annual demand of 20 mil¬lion tons in its first stage (2020). Progres¬sively, its full transportation capacity is estimated to reach a target of 70 million tons per year once the second railway is operative in its opencast stretch.

IPS: Biofuel production is experienc¬ing steady growth due to the fact that companies have adopted an exporting role. Argentina may have a demand for 600,000 cubic meters of biodiesel and 250,000 cubic meters of ethanol by 2010. What position is Corporación América taking in this area?

Eduardo Eurnekian: We have made a $120 million investment in the con¬struction of a state-of-the-art biodiesel plant owned by Unitec Bio in order to produce a yearly output of 240 thousand tons of biofuel. Currently this biodie¬sel is being supplied to international markets.

The consequences are already tangible as such a supply is modifying the energy matrix, thus reducing green house emissions. There is no doubt that it is worth investing as much as possible on clean energy. Not only does it rep¬resent a business opportunity but also a comparative advantage in the future. It is true that renewable energy is con¬sidered to be high risk, but it is worth waiting to reap its benefits in favor of future generations.

IPS: Argentina is regarded by most as one of the top red wine capitals in the world. In fact, the Mendoza region has become one of the hottest destina¬tions in South America for wine connois¬seurs and investors alike. However, you seem to have taken winemaking a step beyond by setting a new viticulture pole in Argentina’s southernmost province of Neuquen: the Bodega del Fin del Mundo [The Winery at the End of The World]. Why is this important to you?

Eduardo Eurnekian: My entry in the wine industry was a personal decision that has its origins in an encounter with Julio Viola, who had set up a pioneering winemaking scheme in the Neuquen Prov¬ince. Julio had already contacted world-acclaimed oenologist Michel Rolland.

Obviously, his presence in Bodega del Fin del Mundo has been decisive and we are honored to have the support of such a respected professional. The extraordinary success achieved in Neuquen has been an inspiring force that will lead us to undertake similar developments in other challenging regions of the world.

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Viernes, julio 30th, 2010

New Cargo Terminal opened at Guayaquil Airport in Ecuador


With the rapid growth of the Ecuadorian city of Guayaquil, the volume of international cargo at José Joaquín Olmedo Airport has recorded a substantial increase in recent years.
Mr. Eduardo Eurnekian, president of Corporación América, was clever enough to see this upward trend as a unique opportunity.

The recognized Argentine businessman got to work and, together with Guayaquil Airport Terminal (TAGSA: Terminal Aeroportuaria de Guayaquil), he developed an ambitious project to prevent a bottleneck from forming in the regional economy.

The new cargo terminal built by TAGSA represented an investment of 4 million dollars. The stunning construction took 7 months of hard work to complete.

This new space is over 150,000 square feet, divided into handling yards, distribution areas, courier, international transit, temporary storage, modules for the development of customs procedures, administrative building and parking lots.

Authorities of the concessionaire company have stated that with the implementation of the new Cargo Terminal in Ecuador (TCE: Terminal de Cargas de Ecuador) they are seeking to increase by 20% the cargo volume in Guayaquil Airport. Currently, it handles around 70,000 annual tons, of which approximately 15,000 account for imported goods.

Jaime Nebot, mayor of Guayaquil, has expressed his satisfaction with the new infrastructure works and has praised the commitment of TAGSA, a company which has worked at this airport since February, 27th 2004.

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Lunes, julio 19th, 2010

Important distinction for Corporación América and its President, Eduardo Eurnekian



Last May, Corporación América was selected as one of the “country’s 100 most reputable companies” by Clarín newspaper. Likewise Eduardo Eurnekian, president of Corporación América, was recognized as one of the “country’s 100 most talented executives”.
The award for corporate excellence granted by the local daily through the “Reputation Ranking” and the “Brand Ranking” is a renowned key instrument in terms of prestige and assessment of companies in Argentina.

This Ranking is created on the basis of a complete methodology developed by the Spanish Monitor of Corporate Reputation (MERCO: Monitor Español de la Reputación Corporativa).
MERCO is a reputation assessment instrument similar to the one published by Fortune in the US. Since 1999, MERCO has been assessing the reputation of companies operating in Spain. Ten years later, it has become one of the world’s top reference monitors. 
The research study published by Clarín also includes a classification of the best companies according to business sector or activity. There are 40 different areas such as food, finance, banking, IT, pharmacy, insurance, chemistry, agriculture, among others.
As for the Construction and Infrastructure sectors, the study has found that Corporación América is the second most reputable enterprise in Argentina.

The newspaper’s General Editor, Ricardo Kirschbaum, has congratulated Eduardo Eurnekian stating that: “On behalf of Clarín we want to congratulate you on having been recognized as one of the country’s 100 most reputable companies. For that reason, it is our pleasure to share this important moment with you and we extend our regards to all those who work for this distinguished company.”

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Jueves, julio 8th, 2010

Mitsubishi partners with Eurnekian

eurnekian-mitshbishiThe Japanese Mitsubishi Group has formally announced yesterday its partnership with the International Biocean Consortium. The latter is led by Eurnekian’s Group through Corporación América. Geodata (Italy), Empresas Navieras (Chile), and Contreras Hermanos (Argentina) are other members of the consortium. The agreement to build the railroad integration system was subscribed with the presence of Osamu Sasaki, Chief Regional Manager of the Asian Corporation. The project will connect the city of Los Andes in Chile with Mendoza through a low-height tunnel.
Meanwhile, the second phase of the Andean corridor has already started. This phase involves conducting detailed studies about the market demand areas. In addition, it will focus on the engineering, geology, and geophysics in the area. The first phase of the project –launched in 2009– dealt with the prefeasibility and environmental studies. 
The “Aconcagua Biocean Corridor” will be a cutting-edge cargo railroad integration system. As such, it will resort to the existing port, railroad, and road infrastructure, passing by the major cities, production and business centers in Argentina and Chile to serve 50% of their respective populations and 52% of the regional GDP”, as explained by Hugo Eurnekian, vice-president of Corporación América.
The executive pointed out that “its area of influence will also extend to the Mercosur, serving 70% of South America’s GDP. With Mitsubishi as a partner, we also seek to reach the Asia-Pacific markets.”
In addition, the project adds multimodal stations in Luján de Cuyo (Argentina) and Los Andes (Chile) with freight transport capacity. This will make it possible to grow from the 7 million annual tons currently transported to more than 50 million tons. Yet, this will demand an investment of 3 billion dollars.

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Sábado, julio 3rd, 2010

Marta Minujin and her golden obelisk in ArteBa

25arteba30Corporación América was present at the 19th Contemporaneous Art Fair ArteBA ’10. It did so through one of its companies, Aeropuertos Argentina 2000, to accompany artist Marta Minujín in the presentation of her latest work, the “Golden Multidirectional Obelisk.”

ArteBa fair, an event held from June 25 through 29 in La Rural, ended with 120,000 visits, an unparalleled figure. For the last three decades, the major art galleries in Argentina present works by the best artists in what has become an actual world-class showcase.

This year release was featured by a strong presence of Latin American artists brought by a number of art galleries from Chile, Colombia, Venezuela, and México. Like Argentina, these countries are also celebrating their Bicentennial. 

In line with these celebrations and within the framework of its commitment with national art and culture, Aeropuertos Argentina 2000 has decided to support one of the most famous plastic artists in our country. Accordingly, it has invited everyone to discover the last of the “obelisks” created by this avant-garde artist.

The work titled “Golden Multidirectional Obelisk,” which is seven meters high, comprises five structures of our symbolic building. One of them is in vertical position, while the other four adopt different positions in an attempt to reach the horizontal line.

According to Marta Minujín herself, “The Multidirectional Obelisk shocks the spectator, making him feel that everything is changing around him, depending on the perspective from where it is seen, forcing him to think about Argentina, which is in constant change, moving up and down.”

ArteBa Foundation –the organizer of this traditional fair– is a non-profit, Non-Governmental Organization (NGO). It has been working since 1991, supporting creation in visual arts. In addition, it promotes the development and disclosure of Argentine art at both the local and the international level.

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Sábado, julio 3rd, 2010

We all build the bicentennial flag

eduardo-eurnekian-bicentenario“A little piece is added, inserted, and coupled to the other, just like any territory’s unity. By doing so, we all express a wish, a longing, and a dream. We are joining each piece to create a whole: The unity of all the inhabitants in this world.” This has been the concept that Corporación América and Aeropuertos Argentina 2000, in cooperation with artist Nora Iniesta and Rasti Company, wanted to share to celebrate the 200th anniversary of our Mother Country.

From May 26 de through mid July, Corporación América and AA2000 invited passengers, their companions, and the employees alike to have an active role in the building of this artistic work located in the main hall of Ezeiza international airport.

Piece after piece, the public was gradually more enthusiastic with the project and placed the blocks with the colors of our flag one after the other, shaping the national flag that will now welcome everyone who comes to Ezeiza.

The idea this project symbolizes is that the country is built with the contribution of all its people. It seeks to integrate all the people that use the airport to show them that the little contribution of many people can make it possible to accomplish major goals.

“The artistic experience of collective construction within the framework of the celebrations of the Bicentennial of the May Revolution is certainly a unique action. It connects all the values and concepts that we, as Argentines, should always keep in mind,” said Nora Iniesta, the work’s creator.

The public did not merely limit to place a block. After doing that, they were given a souvenir – also a block – with a symbolic legend as a reminder of their contribution.

Under the concept of “unity,” the flag-colored blocks served as a catalyst of the wish to see these colors and the flag itself turned into art.

Supported on a metal structure of 2.50 m in length, Nora Iniesta’s work was made using 17,000 RASTI construction blocks. They were specially made for the occasion, and the light blue color was made by the toy company using a very special pigment.

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Viernes, julio 2nd, 2010

Art in Aeroparque

eduardo-eurnekian-arteEspacioArte Aeroparque formally opened its 63rd exhibition with an opening cocktail on July 1. It can be found in the arrivals hall at Jorge Newbery City Airport in the City of Buenos Aires.

EspacioArte is a non-profit project aimed at promoting culture and art. This venture jointly undertaken by Corporación América and Aeropuertos Argentina 2000 came to life in 2003 with a first stand at Jorge Newbery City Airport in Buenos Aires. However, since 2008 it has extended to the airports of Bariloche, Resistencia, Salta, Córdoba, Jujuy, Mar del Plata, Iguazú, Mendoza, Neuquén, Tucumán, Viedma, and Bahía Blanca, and to Aeropuertos Argentina 2000 Corporate Building in Palermo, in the City of Buenos Aires.

This exhibition shows the sculptures and photographs of plastic artists Elina Misrahi, Asher Benatar, and Ezequiel Scagnetti. It is open to the public until July 14, 2010, from 7 AM to 10 PM.

Elina Misrahi was born in the City of Buenos Aires in 1968. She started her studies with ceramist and sculpture masters in 1975. As an artist, she has been recognized with a number of awards and special mentions in different halls and exhibitions. The sculptor has exhibited her works in different cities around the globe, including Washington, D.C. (Aaron Gallery); Miami (DaVinci’s Gallery); Bariloche (Llao Llao Hotel); and Buenos Aires (Dogma). Elina masters different techniques and brings to the airport several sculptures made with ceramics, pewter, cold bronze casting in earth, cement, and hard plaster, handling figurative and abstract art with refined delicacy.

Asher Benatar is a photographer, short-story writer, novelist, and playwright. He has participated in 26 exhibitions organized in Buenos Aires, Mexico, Paris, Zürich, San Francisco, and New York. The last two exhibitions were organized early in 2010 at Recoleta Cultural Center and at the House of Culture in San Isidro. Benatar started his artistic career when he was 19 years old, and engaged in portraits and photography for the fashion world. He is the publisher and author of 14 photography publications. In the exhibition, we can admire his remarkable inventive capacity through a series of direct shots where red and a distinctive and continuous movement prevails, causing a number of different emotions, particularly passion and attraction. 

Ezequiel Scagnetti (34) is Argentine. He resides in Brussels since 2000. His work focuses on cultural and tourist journalism. He kicked off his career in photojournalism in San Martín de los Andes, the city where he settled after leaving his homeland, Córdoba. He studied photography edition, studio lighting, and journalism, history of art, geopolitics, and digital touch-up techniques. The European press has published his pictures. Thus, his work can be seen in Gentleman, Der Spiegel, El País, Paris Match, Newsweek, and Geo, among others. He presented his work in Brussels, Hungary, and Buenos Aires. “World’s Portraits” is an exhibition that combines printed and digital material. It focuses on portraits made in different countries as part of a documentary intended to record different cultural and religious expressions around the world.

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Sábado, mayo 22nd, 2010

Argentina Has Opened its Embassy in Armenia


Yesterday, Chancellor Jorge Taiana has opened the Argentine Embassy in Yerevan, Capital City of Armenia. He highlighted that “we have to be grateful and value the contribution made to our society by the more than 100,000 immigrants of the Armenia community back in Argentina”.

Taiana said that “we are sure that the visit to Armenia will generate a new stage in the growing bilateral relation we already have. As Chancellor of Argentina I really thank the friendship gesture President Sargsyan has showed when I was welcome as well as the productive meeting we have held throughout 45 minutes and at which we have looked at our intense bilateral relation as well as at the various aspects of the political reality both countries are undergoing. He has also ratified the personal invitation for President Cristina Fernandez de Kirchner to visit Armenia.

The Argentine Chancellor had a meeting at the Armenian Foreign Affairs Ministry’s headquarters with his colleague Edward Nalbandyan and he guaranteed that “it is a true pleasure for the Argentine Republic to open this brand-new Embassy in Armenia”.

At the Opening Celebration, the following people have been present: Mr. Eduardo Eurnekian, President at Corporación America; Miguel Angel Cuneo, Argentine Ambassador in Armenia and Armenia’s Ambassador in Argentina, Mr. Vladimir Karmirshalyan.

This first visit to the Caucasian country is a new stage for Mr. Taiana in this growing country bilateral relation and this is an opportunity to consolidate the close link between both countries. He has also explained that “it is a double satisfaction as we are opening this Argentine Diplomatic headquarters and at the same time we are celebrating the Bicentennial Year of 1810 May Revolution in our country”.

Argentine-origin companies are the second-best investors in the Armenian Economy. Eduardo Eurnekian is a member of this community and has made investments in various economy sectors of the abovementioned country. Some of these investments have been made on infrastructure such as the ones on Yerevan Airport, he has also purchased a local Bank and has undertaken a project through FruitFull Armenia firm, this project is making progress on the production of vineyards fit for wines and brandy.

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Miércoles, mayo 12th, 2010

Eurnekian expands airport business in Uruguay

eduardo-eurnekian-carrascoThe businessman submitted José ‘Pepe’ Mujica’s Government a project for development of new airports in the interior of the neighbor country such as Colonia, Rocha and Rivera.

Eduardo Eurnekian wants to replicate in Uruguay the same airport terminal operating scheme developed in Argentine through Aeropuertos Argentina 2000, responsible for the concession of 32 air stations since 1998. Although on the other side of the River Plate they have control just over Carrasco Airport –Montevideo-, and Punta del Este, now he is moving forward and aims to expansion of the above business in other cities of the interior such as Colonia, Rocha and Rivera.

This initiative adds to the one submitted to Montevideo’s Mayor for building a motorway to join the city’s central area with Carrasco area and which will need an investment of 170 million dollars in a 36-month period.

Besides, in 2006 he bought San Roque chain of drugstore and perfume shops and throughout the President Election Campaign taking Mujica to the presidency, he was one of the main private supporters of this “Frente Amplio” political party candidate.

This sort of commercial developments and moves make the Armenian origin businessman a well-known person in the border country. In fact, all this shows that he has chosen said market in order to expand the empire he succeeded in building back in Argentina.

In order to manage businesses “on the other side of the Pond” he created Puerta Del Sol company managed by his nephew Martin Eurnekian and responsible for the airport concessions.

Precisely this Company submitted the Government a proposal to be responsible for operating and modernizing Colonia, Rocha and Rivera airport terminals in exchange of a 10- year extension of Punta del Este terminal concession; and to reinforce this proposal, the group reminded that they have just invested 165 million dollars in refurbishment and concession of Carrasco airport with an aim to welcome five million passengers yearly which means doubling current traffic.

Although the three terminals hold an international airport feature, none of the three terminals offers the necessary infrastructure to welcome big size airplane flights coming from other countries of the region. Therefore and in line with Eurnekian’s plan, the Frente Amplio party ruler will submit a bill to Parliament to authorize the participation of private investors in public works or in partnership with the State concessions for the airports of the interior of the country.

The purpose of this initiative aims to have the above terminals operating international flights and Uruguay becoming a passenger distribution center. To reach this, the infrastructure of airports such as Laguna de los Patos (Colonia), and Cerro Chapeau (Rivera) should be upgraded. In the case of the latter, it is located at a strategic point due to its distance from Paraguay and Argentina’s Capital cities as well as from Porto Alegre and the airports of the Argentine littoral region. Currently, this airport operates with aero taxis, and small size airplanes coming from Panamá, Miami and Argentine cities.

A couple of weeks ago, the Uruguay Minister of Transport and Public Works, Mr. Enrique Pintado, made statements to their country press in advance that the above bill will be submitted soon and he also added that they are looking at having a one-package concession of the three airports. Currently, the above airports Eurnekian wishes to add to his business have a low level of activity and do not include flights from the main passenger airlines of the region.

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Miércoles, mayo 12th, 2010

Swiss businessmen interested in the bi-oceanic corridor

corporacion-americaArgentine, Chilean and European people called for the “Expo Net” Seminar held in the trans-Andean country, have looked at the Project and at the Swiss experience in building the longest tunnel in the World.
The purpose of the above “Expo NEAT” seminar organized by the Embassy of Switzerland in Santiago de Chile on the 6th May was, on the one side showing the features of “Saint Gotthard” railway tunnel construction –the longest tunnel in the World, 57 Km long-, joining the north and south of Europe; and on the other side giving information to Switzerland businesspeople and authorities on the features of Aconcagua Bi-Oceanic Corridor including the low altitude railway tunnel. This corridor will join Valparaiso (Chile) and Mendoza (Argentina).
The leader of the Concessions Business Department within the Ministry of Public Works MOW) Roberto Salinas, highlighted that Aconcagua Bi-oceanic Corridor “is being consolidated by its own size compared to other Andean crossings”. Salinas, who is also a member of the Bi-National Body/Entity and who follows up the progress status of the project highlighted that “the Corridor is under study and due to its own merits, has the Chilean Government’s support”
Within this framework, Aconcagua Bi-Oceanic Corridor Manager, Nicolas Posse, highlighted in his presentation that this corridor -going through the main cities and production and trade points of both countries- will cover 50% of their people and 52% of the GDP. He also pointed out that its influence area will reach Uruguay and the South of Brazil boosting physical and trade integration of the America South Cone and its connection with the Pacific Asia economies.
The abovementioned Executive man stated that “due to its importance, significance and legacy, the Aconcagua Bi-Oceanic Corridor and the low altitude railway tunnel is a necessary, urgent and financially feasible Project. The Swiss Government trusts in the Aconcagua Bi-Oceanic Corridor”.
Mr. Posse added that “Aconcagua Bi-Oceanic Corridor -52 Km long and 100 multimodal station- will contribute to physical and economic integration between Chile and Argentina and will turn into the Panama Canal of America South Cone Area”. In this way, response will be given to the unmet demand of shipment, at the highest safety and security standards and with an in-service guarantee throughout the 365 days of the year.

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Jueves, mayo 6th, 2010

Eurnekian at the Opening of La Dolfina Lifestyle New Store


La Dolfina Lifestyle has opened a new store at 1751 Alvear Avenue, in La Recoleta neighborhood, one of the most distinguished areas within the city of Buenos Aires.

The clothes brand by Adolfo Cambiaso (Junior) together with Ernesto Gutiérrez Conte have organized a cocktail event at the new store having a surface of 120 m2. The main referent people of the Business area were present at this Event.

Eduardo Eurnekian together with Santiago Soldati, Ricky Sarkany, Karina Rabolini, Teresa Garbesi and Bruno Quintana, amongst others, have enjoyed the new proposal by La Dolfina Life Style which adds to the five exclusive brand-name stores.

For 2010 Season, this firm continues expanding the Sport & Polo Equipment line by incorporating technical materials improving the clothes’ performance. Prints, textures, materials and shape of every item are linked to polo lifestyle: “La Dolfina’s style aims at making a person live polo as a whole, whether he or she practices or not this sport, but who likes to be a part of a true polo world. We make a way of living from this sport”, Cambiaso highlights.

Like Polo, La Dolfina is already an Argentine icon being both national and internationally well-known. That is why Ernesto Gutiérrez has joined the development of the firm and its expansion in 2009 “It’s not to do with clothes but with management of a brand meaning polo. As a businessman and lover of sports, I have found the possibility of joining two worlds in La Dolfina: business and polo”, Gutiérrez commented.

The new proposal of the clothes & accessories brand linked to the best polo in the World is inspired in the most genuine elements of this Argentine sport. Together with La Dolfina Lifestyle’s highest exponent and the business view of Aeropuertos Argentina 2000’s President Ernesto Gutiérrez, this firm has succeeded in merging tradition and modernity.

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Lunes, mayo 3rd, 2010

Eurnekian Tries to Spread His Dream on the Bi-Oceanic Corridor with Chile

eduardo-eurnekian-2010The businessman Eduardo Eurnekian has confirmed the intention of Governments and private sectors from Argentina and Chile to continue with the so called Central Bi-Oceanic Corridor project.  In that sense, the President of Corporación América said that “integration is a dream to turn a split up World into a unit, one’s ideals into the benefit of everybody. This is strategic thinking, exchanging, producing, trading and positioning”

The above statements have been made within the VII Hemispheric Meeting of International Relations Boards framework at which Eduardo Eurnekian closed the third day of the event being held at Sheraton Park Tower Hotel until the 30th April.

The core topics of the presentation by the renown Argentine businessman were integration of countries, globalization through investment, links between Argentina and Chile and his view for the future regarding the neighbor country and the Bi-Oceanic Corridor linking us with them

Within the context given by the members of a society interested in the past, present and future of international relations, Eduardo Eurnekian explained on his conviction of working on the most ambitious projects. “Knowledge is the bond between fantasy and reality”

“Following World War II, regional integration brought about  the elimination of conflict scenarios of the countries making up the region and Chile and our country are a clear example of this. We share one of the longest borders in the world -5,150 km– and we have always resolved any differences looking to the future and in a pacific way (…) Both countries have declared through their Parliaments –with legal enforcement- the decision of facing construction of this Central Bi-Oceanic Corridor as an strategic priority using their respective railways towards the Pacific and the Atlantic Oceans””, he explained.

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Lunes, abril 26th, 2010

New Concession for Corporación America

eurnekian-corredorCaminos del Paraná Company, a member of Corporación America, took over Toll Road Corridor No 6, early on Thursday 22nd May.

The new concession will be responsible for a total 932.84 kilometers of National Route No 16 and National Route No 12 linking Misiones, Corrientes and Chaco provinces.

Caminos Del Paraná will be responsible -throughout six years- for building, improving, repairing, maintaining, expanding, and remodeling, managing and exploiting said routes throughout a toll road system.

Eurnekian Group concession firm will have six toll places located at Colonia Victoria, Santa Ana, Ituzaingo, Riachuelo, Puente General Belgrano and Makalle.

In this way, the Company led by Eduardo Eurnekian has been awarded a new concession adding up to the range of its businesses such as airports, fuels, infrastructure, agricultural and livestock fields.

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Jueves, marzo 25th, 2010

Welcome Interest for Airports

Eduardo Eurnekian Aeropuerto CarrascoThe Argentine investor group led by the businessman Eduardo Eurnekian is getting ready to submit to the Government an airport development initiative comprising various airports located in the interior of the country.

In this way, Eurnekian Group pretends to expand Business to Uruguay, which started through its successful disembark at  Carrasco International Airport where its Company, Puerta del Sur, invested around 200 million dollars in order to welcome five million passengers/annually which will mean duplicating the current traffic twice.

The Group is trying to submit the initiative to boost Colonia, Salto, Rivera and Rocha Airports before three Ministries – Economics & Finance, Transportation & Public Works and National Defense-
Although they hold the international airport feature, none of them has currently the proper infrastructure to welcome big-size aircraft flights and even less to have aircrafts from the region countries landing there.

Throughout the last Government, the idea of putting out to tender airports has been approved as a strategy of strengthening the airport industry having Carrasco as the regional hub. This is what Eurnekian aimed at when he landed with his investment at the new international airport.

There is no room for doubts regarding the importance of this initiative and the need that from the government Management this investor Group is encouraged since they hold more than enough credentials to carry out these big size works.

Above all, we have to take into account that the above initiatives are perfectly well in line with the ideas of boosting private investment, which were stated so well by President José Mujica in the well-known lunch shared with businessmen held at the Conrad hotel by the end of February. Investment on infrastructure will be of direct advantage to the country not just after completion but also throughout the building process due to a high labor force included in this process.

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Martes, marzo 23rd, 2010

A Grown-up Society

Jose Mujica y Tabare Vasquez por Eduardo EurnekianJosé Mujica taking office as President of Uruguay reasserts the milestone of a democracy track record in this part of the world. The neighbor country has to be proud of seeing a limpid process taking Mujica to the Presidential office, since from the very beginning of the presidential campaign a great respect amongst the candidates and towards the Uruguayan society as a whole could be noted.

Uruguay has excellent opportunities of medium-and-low term growth opening doors both due to the quality of its governors as well as for the way the change processes have been dealt with, accompanied by a grown-up society responsible for their citizen role. A proper management and power performance by this head of state will help this process –not only from a domestic point of view, but also at the international strategic level.

Tabaré Vázquez left office with over 60% popularity and Mujica will continue with this trustworthy process for the Uruguayan community as a whole and the business community. Mujica is well acquainted with investment and development within a legal security climate being a key to solve social problems. An assertion of this has been the speech he gave at a meeting held with executives early in February when he said, “we have to take care of the investment climate because wealth is a child of work and work is investment. Therefore we can say please “Make your bets on Uruguay!”

It is clear that with this assertion and the certainty of an investment and stability climate, the neighbor country is promising because where there is political and legal stability, risk-running is looked at as a possibility by local and foreign business people.

Eduardo Eurnekian

Fuente: Diario Perfil

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Lunes, marzo 15th, 2010

Corporación América has also embraced Chile

Corporacion America abraza ChileThe supportive Festival called “Argentina abraza a Chile” (Argentina Embraces Chile) held on the last 13th March at Figueroa Alcorta & Pampa Streets, exceeded dramatically the goals proposal. More than 60 tons donations have been collected and the big crowd attending was a clear evidence of the Argentine people’s commitment with our Chilean neighbours. The 100,000 people attending the event brought mineral water, long-life milks, antibiotics, medicines, diapers and warming clothes which were welcomed by the Solidarity Network / Red Solidaria and will be handed in to the earthquake disaster victims.

Corporación América and Aeropuertos Argentina 2000 through Hugo Eurnekian (the Corporation Director) and Jorge Lukowski (AA200 Institutional Relationships Manager) handed in 300,000 “Super Soup” portions; this soup is a very high nutritional sort of concentrated food made by Universidad Nacional de Quilmes and ArgNatural Beef.
The festival started formally somewhat after 16:30 with a short speech by Ricardo Darín: “You are not alone, we are not going to abandon you” said the actor and at the same time highlighted the need of gathering mineral water, long-life milk, coats and medicines. The musical part of the event started with León Gieco and Gustavo Santaolalla duet who interpreted “Pensar en nada” (Thinking on nothing).

Then it was singer Gustavo Cerati’s turn who started his performance at around 16.50. Together with singer Andrés Calamaro on the stage, he sang “Crimen” (Crime), one of his hits of “Ahí Vamos” (There we go), and “Trátame suavemente”(Treat me softly), by Daniel Melero. Soda Stereo Group former leader was on the stage for almost an hour and addressed the audience with these words, “Bear in mind that we are doing it (i.e. the festival) for the poor and not for the governments”
Then, it was León Gieco with D-Mente’s turn and Los Fabulosos Cadillacs group, and singers Raúl Porchetto and Pedro Aznar followed, amongst others. At the closing, around 20.00pm, all the abovementioned artists were on the stage singing together “Solo le pido a Dios” (I’m just asking God).

The purpose of the concert show was collecting donations to be delivered to the victims of the earthquake that struck Chile on the last 27th February. The event will be also the first link of the Solidarity Network who will seek to rebuild schools and health centres within the earthquake affected areas.

Apart from Corporación América and Aeropuertos Argentina 2000 many other International and national companies accompanied this important benefit event: YPF, Banco Macro, Edenor, Oca, Rock & Pop, TN, Samsung and Harley Davidson, amongst others.

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Viernes, marzo 12th, 2010

“Experiencia Del Fin Del Mundo” Spot Opening in Palermo Neighborhood

eduardo-eurnekian-bodegasDel Fin Del Mundo Winery announces the Opening of a new undertaking called  “Experiencia Del Fin del Mundo”(End of World Experience), a top level gourmet spot, specially designed for a bon vivant, located at the very core of Palermo Hollywood neighborhood,  at Honduras St between Fitz Roy and Bonpland Streets.
The abovementioned Opening is included in the prestigious Patagonian winery expansion and development Project, undertaken between Viola and Eurnekian families, since their partnership by mid 2009.
At “Experiencia Del Fin Del Mundo” spot, you will enjoy and share good moments in a warm environment where you will be given a customized care and renown sommeliers will serve you too.
Julio Viola, President of the Winery stated that, “We are very proud of Experiencia Del Fin Del Mundo (End of World Experience), a unique and exclusive spot we’d like to share with our customers and friends“
This new meeting point is the ideal spot for wine tasting, courses and Workshops as well as for corporative, cultural and social events or jut for enjoying a chill-out moment accompanied by world prized wines and an excellence customer service.
“Experiencia Del Fin Del Mundo” is managed by Matías Gainza Eurnekian, Director of Fin Del Mundo Winery, and the renown French enologist Michel Rolland is the consultant of the Patagonian winery since its creation in 2004. Within its trademark portfolio, San Patricio del Chañar winery has got outstanding products such as the Special Blend, Reserve, Grand Reserve and the recently incorporated FIN Single Vineyard line.
In this way, the Neuquén province winery opens its doors to a spot specially created for expansion of senses through delectation of a wide range of Premium products and where wines will play the leading role.

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Jueves, febrero 18th, 2010

Guayaquil Airport, One of the Best in Latin America

aeropuerto_guayaquilIn Europe, the best Airport is the one located at the Island city of Keflavik, followed by the one in Zurich (Switzerland) and the one in Oporto (Portugal); in Latin America, the best aerodromes are Cancun (México), Guayaquil (Ecuador) and Barbados in this order. In the USA, the airport most valued by users is Austin, in Texas, and the preferred one in Africa, is the South African George, and the Israeli Tel Aviv, in the Middle East on top of Dubai and Abu Dhabi’s

The Ecuadorian Terminal

The construction of Guayaquil Airport started in October 2004 and was opened for the first time in July 2006 with an investment of 90 million dollars.

The airport terminal has a 50,000 meter square surface; this allows for an annual traffic of five million passengers, which doubles the capacity of 2006.

Apart from the visual attractiveness the building shows, the technology used is avant-garde and matches the requirements of the international air control organizations. In parallel, its exclusive VIP lounges are considered one of the best in Latin America and the Caribbean.

Guayaquil Airport includes flights serving the Americas and some Europe destinations such as Madrid and Amsterdam.

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Lunes, febrero 15th, 2010

The Bid Awarding Procedure Finishes for the Two Hydro Plants in Santa Cruz River

Following the high tension system arrival at Pico Truncado, now the construction of two hydroelectrical projects will be launched in Santa Cruz River -the most plentiful of the Austral Patagonia region. This is case of the Condor Cliff and Barrancosa Projects.

On the 19th February, Friday, the bids submitted from three consortiums (made up of ten top companies) will be opened. They have re formulated their original proposals in order to compete at the bidding for the construction of two hydro plants in San­ta Cruz river.

This calling out for bidding raised the interest of leading constructors who have undertaken significant hydroelectrical works in Philippines, Co­lom­bia, USA, Bra­zil and Ve­ne­zue­la.
The projects submitted for tender by the National Government for Santa Cruz river have a dramatic energetic and strategic impact on the Austral Patagonia region development.

Having a energetic policy in place since six years ago which put an end to Chubut and Santa Cruz provinces isolation for decades in relation to the National Interconnected System (NIS), the construction of these two hydro plants will aim at repeating in the Austral Patagonian region, the benefits of the 70’s in Comahue from the undertaking of a number of hydro plants such as El Cho­cón, Ce­rros Co­lo­ra­dos, Ali­cu­rá and Pie­dra del Águi­la.One of the consortiums expecting to be awarded the works of Condor Cliff hydroelectrical plant (760 MW and an average energy yield of 3.800 GW/h yearly) as well as those of La Ba­rran­co­sa (680 MW and 1.960 GW/h yearly) is formed by Cor­po­ra­ción Amé­ri­ca owned by Eduardo Eurnekian together with IMP­SA and Ca­mar­go Co­rrea.

The other group is formed by Elec­troin­ge­nie­ría, Jo­sé Car­te­llo­ne and IEC­SA, whilst the third consortium in the run is formed by Esu­co, Te­chint, Be­ni­to Rog­gio and Su­per­ce­men­to.
Having a mean flow of 750 cubed meters/second this Santa Cruz river course is one of the most important ones within the Austral Patagonia region following Limay river course (1,300 cubed meters / second).

One of the most relevant data for the investment on these two projects -which amount to 3,500 million dollars as a whole approx- is that this project will help transforming the economic profile of this region passed over for decades, and subject to cope with the contribution of small diesel dramatically anti-economic power stations.

As recalled by the Ministry of Federal Planning presided by Minister Ju­lio De Vi­do, the feasibility of these projects has been looked at four decades ago by former Agua Y Energia Electrica (water and power utility). However, the dissolution and liquidation of said company in the 90’s made these projects be forgotten.

It was just through the National Energy Plan submitted in May 2004, that these projects now in progress have been given a boost in a first stage through the construction of high tension lines (500 kV) in the whole country specially in the Patagonian region, as it happened with the Choe­le-Choel-Puer­to Madryn and Madryn-Pi­co Trun­ca­do sections opened on the 28th February 2006 and the 30th April 2008 respectively.


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Jueves, febrero 11th, 2010

Mujica had lunch with main Argentine business men

Eduardo Eurnekian y Jose MujicaThe elected President of Uruguay, José Mujica, called for a lunch in Punta del Este and more than 1500 business men of the whole region, USA and Europe gathered in order to spread signs of stability and mainly to attract investors.

Mujica asked business men to do business in Uruguay and said “We have to take care of the investment climate because wealth is a child of work and work is an investment; so we can tell you Bet on Uruguay!”

The current “Frente Amplio” party Senator thanked specially the attendance of the Argentine business men participating in this meeting: Eduardo Eurnekian (Corporación América); Héctor Méndez (UIA); Julio Werthein (Telecom); Cristiano Rattazzi (Fiat); Carlos Blaquier (Ledesma); Carlos Bulgheroni (Pan American Energy) and Juan José Lopéz Mena (Buquebus) and President of the Argentina Uruguay Chamber of Commerce, the organization responsible for this event.

Besides, representatives of Molinos, Citibank, Codere, Techint, Cargill, Sheraton, Mercedes Benz Companies, of the Argentine shipping industry, labs and tanneries participated in this lunch

A further item highlighted at this lunch was the presence of Uruguay former Presidents José María Sanguinetti and Luis Alberto Lacalle, who Mujica guaranteed he will resort to for advice when necessary.

At the end of the meeting Mujica made a comment about the importance of an education system development and finished his speech with these words: “Love Uruguay. It is not perfect. In Latin America there are richer, bigger, more talented people, but our people are worthy”

Cena Jose Mujica y Eduardo Eurnekian

Following the last words by the elected President, various business men agreed that the signs given were very positive and generated great expectations for the future.

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Miércoles, febrero 10th, 2010

Three final bidders in the running for Telecom

Eduardo Eurnekian - Telecom

Yesterday, the Credit Suisse – the Bank selected by the Italians to settle the private tender- defined the short list of the names still in the run as potential buyers of Telecom Italy’s stake in Telecom Argentina.

The selected three ones were a consortium formed by Eduardo Eurnekian and Ernesto Gutiérrez Conte, from Aeropuertos Argentina 2000 and Matías Garfunkel Madanes joined them,  then IRSA owned by Eduardo Elsztain and the ex-logistics businessman Alfredo Román. In the three cases, the tender is for a 50 % of Sofora, Telecom Argentina Parenting Company through Nortel, which the Italians have the Werthein group as a partner in.

The Credit Suisse Bank verified that bidders met the requirements of having the money bid set aside and readily available. Some market sources have guaranteed that from now on a further different analysis will be considered to define the successful buyer.

Following the latest unnamed sources, Eurnekian, Gutiérrez Conte and Garfunkel would offer around 580 million dollars and would have Werthein’s endorsement. On their part, Elsztain’s offer would amount to 630 million dollars whilst Roman group would be in the middle of them both.

Pegasus, Clarín, Geniéve fund and Condor Inversiones were left out of this price competition amongst others; they all have been delivered a letter with the bad news for not having met the requirements established for this transaction.

The three final bidders have been already selected and in Europe there is some talk about a possible merger of Telecom Italy and Telefónica; if realized, this will push the local sale.

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Martes, febrero 9th, 2010

A Drive towards Use of Biofuels


The Federal Planning Gov. Minister, Julio De Vido, announced the effectiveness of a mandatory gasoil blend with a 5% biodiesel. According to De Vido, this percentage will continue increasing year after year until reaching a 20% of the blend in the next four years.
As stated by De Vido, the biodiesel incorporation will strengthen five thousand job positions and the country’s energy reserves will increase by 2%. Besides, the Minister explained that this blend will have a neutral effect on the gasoil price.

“For us this is good news. It is a very good thing for biofuel companies to have a foot in the domestic market”, Fernando Peláez, President of the Biofuels Argentine Chamber (“Carbio”), said.
As explained by Claudio Molina, Executive Director of the Biofuels and Hydrogen Argentine Association, 800,000 tons of biodiesel will be necessary to meet the mandatory 5% blend. This biodiesel may by supplied by producers having a tax credit, a permission granted by the Government to those who want to sell biofuels in the domestic market.
Currently there are nineteen companies having this tax credit. Ten out of them are small-&-medium size companies and have a tax credit equivalent to 100% of their installed capacity. The remainder belongs to CARBIO’s companies, such as Unitec Bio, owned by Eduardo Eurnekian; Ecofuel, by AGD and Vicentín and AG-Energy, by Viluco. Forty percent (40%) of the companies having tax credit are from Non-Pampas areas.
Biodiesel domestic tariff is fixed by the Government and today it amounts to $ 2.90 plus VAT a liter, ex-factory. At the international market, biodiesel quotes at 930 dollars /ton.
Molina says that the country -having an installed capacity to produce 2 million tons of biofuels- has become a solid actor in the latest years. Therefore, today Argentina is the main biodiesel exporting country and the fifth world producer.

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Domingo, febrero 7th, 2010

Carrasco Airport amongst the Most Beautiful Airports in the World

eurnekian-carrascoIn its January issue the prestigious Travel & Leisure magazine published an article called “The Most Beautiful Airports in the World” and the new Carrasco Airport Terminal (operated by Eduardo Eurnekian’s Corporacion America) is highlighted as one of the best airports.

This selection of airports was made by a renowned architecture Critic, Karrie Jacobs, who writes on travels, architectural design, visual language and architecture- applied- technology in various publications, such as the New York Times, ID & Fortune. She’s also an editor of the most prestigious devoted magazines of architecture, landscaping and urban design. She’s currently a professor at the New York School of Visual Arts.

The new Carrasco Airport was opened on the last 29th December 2009 and after one month from the opening date it received highly favorable critics both from the Uruguayan people and internationally too. From the first Opening flight, the wide range of services, commercial offers and even communication actions have had a positive impact and caused a high level of acceptance both by users and the general public, who visit the facilities on a daily basis.

Jacobs considered not only the building architectural beauty, or its integration to the landscape but also its functionality for passengers.

According to the article, the “most beautiful” airports in the world are the following::
•    Terminal 3, Beijing International Airport, China;
•    Terminal 4, Barajas Airport, Madrid, Spain;
•    TWA Terminal, John F. Kennedy Airport, New York City, USA;
•    Carrasco International Airport, Montevideo, Uruguay;
•    Sondika Airport, Bilbao, Spain;
•    Denver International Airport, USA;
•    Incheon International Airport, Korea del Sur;
•    Marrakech Menara Airport, Marrakesh;
•    Chek Lap Kok Airport, Hong Kong, China;
•    Tempelhof International Airport, Berlin, Germany;
•    Malvinas Argentinas Airport, Ushuaia, Argentina;
•    Kansai International Airport, Osaka, Japan;
•    Kuala Lumpur International Airport, Malaysia.

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Lunes, enero 25th, 2010

The Bi-oceanic corridor un search of Japanese Partner



The corridor is taking form. The Consortium to put in place phase two is being created: the group would include: Mitsubishi, Queiroz Galvao, San José and Contrera Hnos.; Corporación América will be the operator.

At the 22nd Plenary Meeting of the Argentine Japanese Business Committee- held in Tokyo this month, the Central Bi-Oceanic Corridor Project became relevant again through Eduardo Eurnekian’s words, at one of the main speeches of the event, and this called the attention of the Japanese market.
Through statements made on “Comex” Supplement of Buenos Aires Economico (BAE) newspaper, Corporacion America’s engineering manager of the project, Hugo Eurnekian, said that negotiations on new potential Partners for the Bi-Oceanic Corridor have progressed in such considerable way throughout the Japan-Argentina business committee’s meeting, that one of the Partners-to-be could be Mitsubishi from Japan.

The corridor is a new inter-oceanic crossing which establishes a physical and commercial integration between the Pacific and the Atlantic Oceans, both regarding capacity and reliability.

The Central Bi-Oceanic Corridor is designed to face a long-term increased demand since it offers a railway through Los Andes location (Chile) up to Luján de Cuyo (Argentina) of 204 kilometers.
Also, the project includes a 52km long low-altitude tunnel from Río Blanco (Chile) at 1544 meters above sea level up to Punta de Vacas (Argentina) at 2435 meters above sea level.

The above project will allow crossing the Mountain Chain in less than 4 hours, thus decreasing costs per tons and will unify Chile and Argentina Customs Offices, thus simplifying border customs procedures.

Besides, the project offers a fully Multi-modal Atlantic-Pacific single gauge for transportation of any sort of freight.

In January 2008 Corporación América introduced the respective Private initiatives in Chile and Argentina for this project. Chile declared the project “of national interest” in August 2008 and Argentina followed suit in September same year.

The Feasibility research work was submitted before both Governments in March 2009, showing that the Project is not only technically feasible but also from the economic point of view.

On the 30th October 2009 Maipu Treaty was subscribed; it includes an Extra Protocol specific to the Central Bi-Oceanic Corridor. This treaty became law in both countries in November 2009. Currently, the Consortium to undertake Phase 2 is being created with Companies such as: Mitsubishi, from Japan, Queiroz Galvao from Brazil, San José from Spain, Navieras from Chile, and Contrera Hermanos from Argentina.

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Jueves, enero 21st, 2010

The New York Times highlights “Bodega Del Fin del Mundo” Winery

Eurnekian Bodegas del Fin de MundoBodega Del Fin del Mundo has been highlighted by the New York Times as one of the “top” 31 touristic places recommended to visit in 2010. 
This morning paper highlighted both that Bodega Del Fin del Mundo Winery is one of the pioneer wine growing area in San Patricio del Chañar region, Province of Neuquén, and also the work done with the influential wine consultant Michel Rolland.

As part of the suggestion to visit the place, the NY Times stressed the number of International prizes won by the Winery owned by the Argentine businessman Eduardo Eurnekián, for its complex merlot, cabernet sauvignon and malbec blends.

The reference made by the New York paper fits perfectly well with progress made by the Business now who are at the completion stage of the first theme restaurant within Palermo Hollywood area, close to Aeropuertos Argentina 2000 offices, located at Honduras St. at the intersection of Bonpland St.

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Jueves, enero 21st, 2010

Haiti te necesita

HaitiAeropuertos Argentina 2000 together with Pan American Development Foundation (PADF), the Private Sector of the Americas (SPA), The Airports Council International for Latin America and the Caribbean (ACI-LAC), and Corporación América (CASA), have liaised in order to help Haiti community at this tragic moment the Caribbean people are experiencing.

On the last 12th January a 7.3 Richter size earthquake occurred in Haiti and its epicenter was located in its Capital, Port-au-Prince. This earthquake caused a number of deaths not yet estimated and a substantial number of material damage.

Many buildings and the public infrastructure have been destroyed. Hospitals, schools and two ports of the city have suffered serious damages. This infrastructure damages have made many people abandon their homes and resort to temporary overcrowded shelters.
Haiti very serious situation turned even more complex in the morning of the 20th January, when a new 6.1 Richter earthquake again occurred. This time the epicentre was located 59 km to the northwest side of the capital Port Prince and caused new building collapses in the already destroyed buildings and panic among the terrified people overcrowding the streets.
Based on the Humanitarian Issues Coordination Office at UNO, it is estimated that there are 3.5 million people within the earthquake areas and its aftershock areas. Basic items such as water, food, clothes and medicines are absolutely necessary at this moment.
Within this framework the Private Sector of the Americas, a NGO presided over by Ernesto Gutiérrez, called its members and friend institutions to collect funds so that the organizations working on site have the basic necessary items to help in the best way possible. The SPA considers that the entrepreneurs at the region must show their commitment and join efforts in an aim to overcome the emergency situation the Haitian people are undergoing.

Aeropuertos Argentina 2000 have put Collection boxes at Ezeiza Airport and Aeroparque and will repeat this action in the next days at the remaining terminal airports within the country. Other airports of the region joined their efforts in this initiative; Carrasco International Airport, in Montevideo and Punta del Este International Airport too, amongst them, as well as Guayaquil Airport, in Ecuador. The above terminal airports are operated by Corporación América whose President is the Business man Eduardo Eurnekian. All the money collected through these collection boxes will be delivered to PADF, an institution responsible for sending these resources.
Regardless the actions made specifically by the various Latin America and Caribbean Airports, the ACI-LAC members organized a Strong dissemination Campaign at their Airports, in order to show what has happened in Haiti. The purpose of the campaign is to contribute to the awareness rising from passengers and members of the aero commercial industry thus creating commitment and support from them.
If you wish to join this supportive crusade please visit the following website and make your donation through a credit card.

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Viernes, enero 15th, 2010

Argentina Seeks to Strengthen Business with Japan

eduardo-eurnekian-en-JaponThe Delegation led by the Minister of Foreign Affairs of the Argentine Republic, Jorge Taiana, arrived to Japan with two accurate targets. On the one hand, to increase exports for a food import market and on the other hand to attract high tech companies into our country.
The Argentine Chancellor also came with the Argentine Chamber of Commerce Vice President, Eduardo Eurnekian, UIA (Argentine Industry Union) President, Héctor Méndez, the Secretary of Trade and International Economic Relations, Alfredo Chiradia, the Head at the National Agency for Investment Development, Beatriz Nofal and a further 30 national entrepreneurs.

Today, Taiana, will meet with Japanese Chancellor and will co-chair the Fourth FEALAC Session on Saturday and Sunday. FEALAC is the forum made up of 33 countries of East Asia and Latin America.

“All of us came from Argentina because we hold a long dated friendship with Japan; over 110 years of diplomatic relationships and deep agreements, despite the geographical distance, on various issues of the international agenda”, the Minister commented and added that “during 2010, the Year of the Bicentenary, we want to strengthen our ties with the world, Japan included, who owns an outstanding role”

Business Meetings with Entrepreneurs

Throughout the four days of this official visit, the Argentine Chancellor will participate in meetings with entrepreneurs, in the First Cultural Symposium between both countries at which renowned speakers are involved, and will hold a bilateral meeting with Japan Chancellor Katsuya Okada. Besides, Taiana will co-chair with his Japanese counterpart the IV Ministerial Meeting of FEALAC (Forum of East Asia – Latin America Cooperation)  made up of 33 states of the two regions on the 16th and 17th January.

Taiana, together with the Secretary of Chancellor’s Economic Affairs,  Alfredo Chiaradía, and our Ambassador in Japan, Daniel Polski, will participate in the 22nd Meeting of the Cmeaj (Japanese-Argentine Joint Business Committee*); this Meeting starting tomorrow.

The Argentine Diplomacy Chief Officer will lecture on strengthening and refreshing of the bilateral relationship at the 22nd Cmeaj* Meeting to be held at the Trade and Industry Chamber in Tokyo, which will be presided over by Mikio Sasaki, Mitsubishi Co. President, chairman Of the Argentine Japan Business Committee and Head at the Japanese Chamber of Commerce and Industry.

“The purpose of this meeting is to create a space for looking at and exchanging ideas in order to strengthen the bilateral economic and business relationship with an strategic view”, Taiana commented.

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Miércoles, enero 13th, 2010

Hassle-free landing solutions at Chapelco airport

eduardo-eurnekian-sistemas1Chapelco Airport, near San Martín de los Andes, will be the first airport in Latin America to rely on an approach system guided by satellite-information. This new feature will allow for operations without experiencing problems despite unfavorable weather condition. 

The survey for the development and startup of such System is the result of an initiative launched by Corporación América, for which it has invested one million dollars. The company entered into an agreement with MITRE Corporation, a US-based company, to analyze the implementation of advanced navigation systems and the design of the path that will be used by the aircraft satellite navigator. 

Snowstorms and clouds that used to hinder operations quite often at the airport will now be something from the past if the suitability and feasibility studies for the implementation of an Advanced Navigation System are positive. 

The study currently under way for Chapelco coincides with the main goal expressed by the company, which seeks to introduce the latest technology to rely on more efficient and safer operations in the aircraft-airport symbiosis and public interest utility.

To confirm the feasibility of such System, Corporación América agreed to conduct the feasibility study developed by MITRE in cooperation with the Municipality of San Martín de los Andes and the Concessions Department of the Province of Neuquén.

MITRE Co. is a non-profit US-based private institution engaged in research. Its origins date back to a lab that had the Massachusetts Technology Institute (MIT) as a member by the mid 20th Century. At present, its staff has more than 5,500 mathematical engineers and other professionals. Its Center for the Development of Advanced Aviation System is certainly the most important and prestigious center around the globe. 

Aerial photogrammetric flights were made in the area. Then, the information obtained was scanned. In addition, an Automatic Weather Station for Surface Observation (AWOS) was installed to transmit data online about weather conditions (atmospheric pressure and temperature, wind intensity and direction, visibility, and cloud height) to MITRE laboratories.

The new system will make it possible to operate with landings and departures under bad weather and poor visibility conditions. Satellite technology helps to accurately determine the position of moving objects, either on the landside an on the airside, and has swiftly started to change air navigation techniques. 

This means that suitably equipped aircraft (virtually all those that have been recently introduced to the market) can navigate without the need to be guided from the landside. In addition, they can also follow curvilinear paths, thus avoiding obstacles in difficult areas. This technique is known as “required navigation performance” (RNP).

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Jueves, enero 7th, 2010

Investment in Montevideo, Uruguay

eurnekian-invierte-en-uruguayCorporación América, a company controlled by Eduardo Eurnekian, submitted a project to the Mayor’s Office of Montevideo, Uruguay. The plan foresees the construction of a fast highway to connect the city downtown and Carrasco area. The project will demand an investment of 170 million dollars and its completion has been estimated in 36 months.

The Argentine company said the new highway would have six central lanes, three in each direction. Eurnekian has already been in the Uruguayan market through Puerta del Sur, the concessionaire of Carrasco International Airport, which has been recently reopened after an investment project for 165 million dollars.

Fuente: La Nacion

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Martes, diciembre 29th, 2009

“I have a right to go for Telecom”

Eduardo Eurnekian

This is the first time the owner of Corporación América speaks about his offer for the telco company. His partnership with the W and his differences with Clarín. He ensures there is nothing wrong with having the SEC investigate about the transaction. In addition, he says the Government should take a more “drastic” action concerning the operation.

The emotion of having given the keys of the hospital that bears his brother’s name to Governor Daniel Scioli had already gone. Then, just before boarding his private helicopter, Eduardo Eurnekian emphatically said, “The fact that the operation has the necessary blessings for me to get Telecom Italia is just nonsense. These are just inventions and stories fixed up by certain bidders. Certain media companies have echoed their vested interests and they believe they should be the ones to get the telco company.” This is the first time the executive refers to his interest in Telecom. Moreover, his words about the offer he made to the Italian owners of the telecommunications company in Argentina was featured by disgust rather than enthusiasm in the light of the new challenge he could face with this investment. Eurnekian’s answers during the interview he gave to FORTUNA came up and were related to the rumors that circulate in the market. They allege his proposal would be endorsed by the Administration of Cristina Fernández so that the partnership between Eurnekian and Ernesto Gutiérrez would get 50% of Sofora Telecomunicaciones, the company currently owned by Telecom Italia. With the accusation made by certain bidders – i.e., the companies that have submitted economic proposals for this offer, which include Clarín, Pegasus, Román, Inversiones Cóndor and Genevieve Investment Fund –, the US Securities and Exchange Commission (SEC) began to investigate Telecom Italia sale process in the country. Therefore, it has requested information about the relationship between the Argentine executive and the presidential couple. “Telecom Italia has enough power to make its own decisions concerning who it will sell its company. Do you really think any Administration can certainly have an influence on them or on the decision they have to make? There is a clear intent echoed by certain sectors that publish certain information.”

FORTUNA: Does the investigation the SEC is now conducting make the negotiation more complex? Part of the information requested from the United States refers to the relationship that exists between you and the Kirchner couple.
EURNEKIAN: As far as the request from the SEC is concerned, there is nothing weird. They are not making any special request. What the SEC is doing is merely an investigation of an affair based on a complaint. And to do so they need information. They are simply defending the rights of all the shareholders in Telecom. It is perfectly right for them to do that, and it does not affect operations.

FORTUNA: Do you think some sectors are trying to harm you?
EURNEKIAN: Everybody knows Clarín has presented for the private call for bids organized by Telecom. Yet, I wonder how serious or how fairly Clarín can give an opinion on this issue. They argue I have presented the lowest offer and I am accused of having done that. As the seller that is the role of the Italian telecommunications company.
They are the ones who should decline my offer and say it does not convince them.
It is said the group made by Eurnekian and Gutiérrez may have offered USD $500 million for the Italian equity share. They also say the money comes from certain disinvestment in some real estate business in Armenia, the sale of some duty-free shops, and the contribution from Martín Garfunkel and other investors. On the other hand, the offer presented by Carlos Joost Newbery amounted to USD 835 million, but it includes the option to buy the Werthein’s equity share. On the other hand, the offer made by Genevieve’s fund exceeded USD $900 million. According to certain sources that are familiar with the negotiation, the other parties involved made offers that range from the maximum figures and the alleged lowest offer presented by Eurnekian.
According to the owner of AA2000, “there are many parties interested in Telecom Italia. The company did the right thing because it launched a private call for bids. On my part, Mr. Werthein is my partner, and in turn, he is also a partner in Telecom Sofora.
Then, I simply say that what I am doing is to have my partner, Mr. Werthein, participate in the offer.
What prevents me from doing that? What is the problem with doing that? Why do they forget to mention Mr. Werthein, who is willing to buy it with me? Why does he have rights and why cannot I have rights? I do not understand it.”
Eurnekian lays the emphasis on his will and intent to make such purchase. And even though he adopts a more cautious style, the Werthein group suggested that the possibility of sharing the telephone company management with the head of Corporación América would not be unpleasant. “The W holds Mr. Eurnekian and his group in high esteem. We are pleased to see that Eduardo is already feeling as a partner in Telecom, and consequently as our partner.
We have to wait for the new development and see to whom Telecom Italia is sold when it is actually sold. Then, the time would come to talk with the owners,” a top executive from the group ensured.
Following that line of thought, the good relationship between the executives is well known in the market. All in all, Adrián and Gerardo Werthein must accept the candidate that Telecom Italia will eventually select.

FORTUNA: Why do you think there is so much talk about the alleged intervention of the Government in the sale process?
EURNEKIAN: Telecom is a large and important company on sale. However, the transaction is somewhat becoming a national issue when, in fact, selling one company to another is something common.
The Government has been accused of acting and influencing the sale. In my personal view, I would have liked to see the Government take more drastic actions as other governments have done to encourage a local company to buy any foreign company that is going for sale. Concerning the purported intervention of the Government, I believe we should take away the deliberate intent shown by these sectors and the owners of certain large media companies.
We all have the same right to purchase and compete for Telecom.
The people close to the executive like to give an example of how a more active involvement of the Government should be, as Eurnekian has been claiming. “When Lula gives his support to see Petrobras or any other large Brazilian company purchase another company – an executive from Corporación América says, – we believe it is the right thing to do.
We even say it is an example we all should follow. However, when the Argentine Government exerts pressure for the sale of a company, as in this case, a competition regulation problem appears, and we see it as a problem. I do not even want to think of the scandal it would be if the Government inclines in favor of Aeropuertos Argentina 2000 to purchase a company, be it Telecom or any other! Anyway, the one that is to make the final decision who it will sell the company to is Telecom Italia. Following that line of thought, Eurnekian says the Government should take a more active role in this kind of sale… just like Lula is doing.”

MANAGEMENT. Franco Bernabé, the CEO of Telecom Italia, addressed the issue in public to calm down the local bidders. From Rome, he ensured the SEC “is not posing any problem. We received the notice whereby they let us know about the investigation they are conducting concerning the Argentine part of the process. In addition, Telecom Argentina management was always featured by utmost transparency as far as behaviors and respect for the market are concerned.”

FORTUNA: The fact that the Italians are somewhat forced to sell the company, does not make negotiations even more difficult?
EURNEKIAN: The call for bids is a private process. Therefore, every company and every executive has a right to participate and compete. The one who defines the bidding terms is the seller. So, the process is completely different from a public bidding process. I did not force anyone to sell.
Telecom Italia is being compelled to sell, not because it wants to sell but because Telefónica de España has acquired a share in the Italian telecommunications company. Thus, one single company would get to manage 100% of the telephony market in Argentina. This is what we know as a monopoly. So, the Argentine Government has reasonably told the company: “Sirs, you cannot keep such shareholding. You must sell it.”
Then, the company takes the right action and calls for private bids. This is why I participated and submitted my own bid in this process.
During his conversation with FORTUNA, Eurnekian was insistent and repeated a phrase: “I did not force them to sell. The opportunity showed up, I took it, and submitted a bid. That is all.”
When the helicopter was about to take off, Eurnekian’s last phrase summarized the current status of the negotiation: “The operation to sell the shares in Telecom Italia is nowhere. We are just waiting.”

Revista Fortuna

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Lunes, noviembre 30th, 2009

Eurnekian joints the gastronomic boom and opens a restó bar in Palermo Hollywood

Eduardo Eurnekian abre restó en Palermo HollywoodAs the owner of a very prolific group with investments that go from airport concession to areas such as the oil industry, biofuels, the development of infrastructure projects, and the winemaking business, Eduardo Eurnekian is getting ready to please himself. Thus, now he will run his own restó bar in Palermo Hollywood.

The goal envisaged by the head of Corporación América is to open the bar in February. And the place chosen for this new project is the corner of  Honduras and Bonpland, just by the offices the company has to manage the main airports in the country, and adjacent to one of the most famous taverns or ‘bodegones’ in the area, the ‘Bar del Gallego’.

Matías Gainza Eurnekian, one of Eurnekian’s nephews and director of Unitec – a company from Corporación América who manages his uncle’s agribusiness unit –, is responsible for this undertaking.

The restó bar will be located in an area the company had leased until the end of 2007 to the Mexican CIE Rock & Pop group. The premises were the headquarters of América, Metro, Blue, and Aspen radio stations. Early in 2008, CIE sold América and Aspen and relocated its offices in the district of Colegiales. Therefore, the premises having more than 500 meters in area were empty. Eurnekian had bought the building late in the decade of the ‘80s, when he decided to embark on the media business, after he bought América Radio Station and the television channel known as Canal 2. By that time, Palermo had not experienced the gastronomic boom of the present days and there were just a few restaurants in the area. Anyway, the escalating boom could be seen in the horizon, and now the district concentrates the largest number of bars and restaurants in the Federal Capital City.

A few months ago, Eurnekian decided to refurbish the premises in a thematic restó bar about the wine industry. Thus, he decided to profit from Bodega del Fin del Mundo, a winery where he has a share of 50%.

The name chosen for the new restó bar, ‘Espacio del Fin del Mundo’, is not a coincidence. The project has been conceived as a place to taste the products produced by this winery in Neuquén founded by the Viola family, who still owns 50% of the company.

In addition, the French oenologist Michel Rolland, a consultant for the winery in Neuquén, will also offer his advise for the project. Besides, the premises will be also used to organize the events Eurnekian may want to hold in order to promote all the businesses his holding may engage in.
In addition, the restó bar is part of a larger project conceived to promote the image of Bodega del Fin del Mundo in the tourist sector and overseas.

In fact, Eurnekian has invested USD $50 million to acquire 50% of the winery, extend its capacity, and develop the Premium lines to take Bodega Del Fin del Mundo wines to new international places, but also to strengthen its position in the domestic market. Moreover, the plan envisages new production projects in other countries, such as Italy, the United States, Armenia, and Morocco.
Among its brands, Bodegas del Fin del Mundo sells wines such as Ventus and Newen, while its premium line includes Fin del Mundo Special Blend, a bottle whose price in the winery stores is around 500 pesos.

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Viernes, noviembre 20th, 2009

Corporación América at the forefront of Technology

corporacion-americaInstituto Tecnológico de Chascomús or INTECH (Chascomus Institute of Technology), the entity that depends on the University of San Martín, has succeeded in cloning the Grand National Brangus Champion 2007. It has done it in close cooperation with Conicet, and the full support of Arg Natural Beef, a member of Corporación América family of companies.
The birth of the heifer calf has caused a big shock in the scientific and business communities. The main executives of Corporación América, led by its president Eduardo Eurnekian, were very pleased. Moreover, they recalled they had already succeeded in cloning Ciruelo with the assistance of both INTECH and Conicet, which resulted in the birth of Ciruelito.
“We have adopted the policy of investing in biotechnology. Consequently, mastering the cloning technique is crucial, as explained Carlos Marietti, a member of ARG Natural Beef. The idea is to try to reproduce genetically improved animals. This is why we plan to continue with horses. We are very pleased with the results obtained so far because even though the economic aspect has not realized yet, the mastering of this technique offers huge potential for the future.”
On his part, Adrián Mutto, the researcher from INTECH, pointed out that the heifer calf is virtually an identical replica (that has resulted from cloning) of the Grand National Brangus Champion 2007. Moreover, this is the first time a clone of a cow is obtained in our country from an animal that had died before its clone was actually gestated.
“This is the first gestation in the country obtained from a dead animal, Mutto said full of pride. He, accompanied by Germán Kaiser and Nicolás Mucci, were the ones who succeeded in cloning Ciruelo, also a Grand Champion. Its identical clone, known as Ciruelito, was the first Brangus clone in the world. The bottom line is that we could retrieve all the genetic potential of these specimens. The owner had lost that and we could give it back to him.”
As in the case of Ciruelo, the gestation of the new heifer calf occurred within the framework of a technologic transfer agreement. This time, the agreement was subscribed by the University and ARG Natural Beef, a company of Corporación America family of companies. The latter is financing the project. So far, the company has invested 250,000 dollars, which have been used to acquire the micromanipulators and the high-precision equipment needed to implement such technique. 
Immediately after the death of the original cow, Mutto received a little portion of tissue. “We made a cell culture [fibroblasts]. Then we cryopreserved it [in a liquid nitrogen tank, 196 degrees below zero] until we finally used it. We then proceeded with several nuclear transfer maneuvers until we finally obtained the embryos that were implanted in the recipient females.”
Just two gestations were needed to finally obtain the cloned heifer. To have a better idea of the scientific and technical knowledge of the Argentine professionals, it suffices to say that the cloning of Dolly, the ewe that has started this story, demanded 280 transfers. The current average ranges between 5 and 10% of positive results. “In all and within the framework of this program, we transferred 23 embryos and we obtained four specimens born alive. Therefore, this means we could accomplish an efficiency of 17%,” Mutto said.
According to Daniel Salamone, from the School of Agricultural Studies of the University of Buenos Aires, the interesting aspect of such accomplishment is to see it has been made by a national university. “The State has been making many efforts in research. However, we need to have more companies willing to support new developments in the country. The ones that have done so prove they can benefit from it.”
Obviously, the cattle-producing companies have new chances of relying on a top-quality herd waiting “in the freezer.” Moreover, such an accomplishment will offer them new unimaginable business possibilities. However, for those who may question whether these cloning techniques can be used in human beings, the answer is simply no. 

“Apart from being a mere publicity affair that entails serious ethical problems (which, on the one hand, would put an end to the career of all the scientists involved), there is no reason to do so, explained Dr. Lino Barañao, Minister of Science, Technology and Productive Innovation. We are not just the result of our genes: We cannot substitute one of our own children or a hero from old times. The Clone would be simply a different person. Besides, this is not an innocuous technique. The animals cannot always make it beyond a few hours, or else they have depicted certain alterations in their genetic reprogramming. In addition, each species has its own challenges. In fact, the technique could not be used in primates. It makes sense in the case of cows, sheep, and horses. However, we can be assured no human cloning will be reported.”

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Viernes, octubre 30th, 2009

Cristina and Bachelet entered into an integration agreement.

tratado-integracion-chileEduardo Eurnekian met with the Head of State of Chile, our neighbor country, within the framework of a trip he made to accompany President Cristina Fernández de Kirchner.

Last Thursday, October 29, a delegation of business executives traveled with the Argentine Head of State to reflect the good relationship between both countries. Following that line of thought and to consolidate such link, a bilateral agreement that will regulate the relationship between Chile and Argentina was signed.

The document includes the joint execution of physical integration projects, such as the proposal made by Corporación América for the so-called Trans-Andean Railroad.
Thanks to Eduardo Eurnekian, the company succeeded in extending its infrastructure portfolio in the last four years. Its projects include the construction of the “Central Trans-Andean Tunnel” that will connect both countries.

The project goes well beyond the requests and expectations of both Argentina and Chile to have a fast and efficient crossing on the Andes. Thus, the project for the new crossing will be featured by “more capacity and will not be affected by prevailing weather conditions.”

The project, that can be only comparable with the two channels that are being built in the Swiss Alps, comprises the construction of a tunnel beneath the mountain and the installation of a power-driven railroad that will connect both countries crossing the Andes Range. Thus, it will finally make the direct connection with the Asian market a reality. In its first phase, its wagons will transport up to 30 million annual tons of cargo.

An investment of 3.0 billion dollars will be required so that both countries can have a strategic crossing by the year 2015. The project will include a low-height tunnel, and an electric power-driven railroad in operation 24 hours a day, 365 days a year. Moreover, operations will not be affected by weather conditions.

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Martes, octubre 6th, 2009

Corporación América opened Carrasco Airport

eduardo-eurnekian-carrascoJointly with Puerta del Sur, Corporación América opened today the new Carrasco International Airport. The facilities, which have demanded an investment of nearly 200 million dollars, rely on capacity to accommodate 5 million passengers a year, twice the current capacity.

The president of Corporación América, Eduardo Eurnekian, addressed the audience during the opening ceremony and stressed certain critical aspects of the new facilities. The president of Uruguay, Tabaré Vazquez, and the Minister of Public Works, Victor Rossi, were present for this event.

“Only five years ago – Eurnekian said – we undertook the wonderful challenge of managing Carrasco International Airport and building its new terminal.

“When we began to dream with this project, we did not think about concrete, glass, or any investment, but on how we could transmit and depict the character and personality of Uruguay, a beloved, recognized, and respected country, not only by Argentina but also by nearly all the countries around the world.

“To express in a project all the admiration, acknowledgement, respect, and affection we feel is a great challenge.”

“This is how we decided to entrust the design for this project one of the sons of this land as to make it reflect the character of the Uruguayan people. We thus called Architect Rafael Viñoly, a pride for Uruguay who reached and conquered the world with his talent and genius, to make it a reality. We were right.”

“In the last decade of experience in airport management, Corporación América, a member of Puerta del Sur, has built several airports. In Argentina, we opened the airports of Córdoba, Bariloche, Iguazú, Río Gallegos, Aeroparque, and the first phase of the project for Ezeiza International Airport, among others. In Ecuador, we built the new terminal in Guayaquil, and in Armenia, we opened the new airport of Yerevan.

“Some of them have been recognized with international awards. Each of them is featured by its own personality, its own character, and its own unique beauty. However, let me modestly tell you Mr. President, ladies and gentlemen, that none of them and no other airport we have visited in many places around the world can match the beauty of the airport we have built here.” With these words, Eduardo Eurnekian concluded the airport opening ceremony.

Finally, Eurnekian stressed, “Mr. President, I would like to conclude with our recognition for your homeland, as it is also our homeland, for the generous welcome of its people.

 “I modestly and humbly say, “What a great country is the one whose governments can continue with the projects launched by the previous administration, disregarding the fact they may be from an opposing party!

“It has been easy, simple, and nice to work with such nobility, commitment, and patriotism that have featured the different administrations. Thank you. Thank you very much.”

A number of local officials and authorities were present for the event, as well as many major executives from Uruguay and Argentina. Among the people present for the event were the National Minister of Defense, Dr. Gonzalo Fernández; the National Director of Civil Aviation and Aeronautical Infrastructure, Brig. General Daniel Olmedo; the Minister of Foreign Affairs, Amb. Pedro Vazramela; the President of Puerta del Sur, Eng. Martín Eurnekian; the former President of Uruguay, Dr. Julio María Sanguinetti; the former President of Uruguay, Dr. Luis Alberto Lacalle; and the former President of Uruguay, Dr. Jorge Battle. The delegation of Argentine executives who traveled for the event included Ernesto Gutierrez, President of Aeropuertos Argentina 2000; Guillermo Francos, President of Banco de la Provincia de Buenos Aires; Carlos de la Vega, President of the Argentine Chamber of Commerce; Santiago Soldati; Amadeo Riva; and Carlos and Diego Avila, among others.
Corporación América is an Argentine-owned corporate group with a strong presence in a number of airports scattered around the world. It also manages the concession for Laguna del Sauce airport (Punta del Este) in Uruguay. On its part, it manages 33 airports in Argentina as a member of Aeropuertos Argentina 2000 and runs the airports of Neuquén and Bahía Blanca. It also manages the international airports of Guayaquil (Ecuador) and Zvarnots (Armenia).

The Uruguayan architect Rafael Viñoly, who has also devised elegant buildings in different continents, designed the building for the new airport.

The total area covers 45,000 square meters and is divided in two levels. The ground level will accommodate arriving passengers, while the upper floor will concentrate departing passengers. In addition, it relies on a large terrace, 8 gates that can be simultaneously used for remote and fixed boarding, and four fixed bridges for deplaning.

The building is fitted with 4 telescopic bridges and 44 check-in positions equipped with CUTE (exchangeable counters’ system). The ground floor has three baggage belts, 24 immigration counters (12 for arrivals and 12 for departures), a parking lot with capacity for 1,200 vehicles, thus doubling the current capacity, and 100,000 square meters especially conceived for commercial purposes.

The new air station can handle more than 150 per cent of the current passenger volume, which stood for 1,236,000 in 2008. This means that once the building is operational, it will provide IATA A-level service.

The new Carrasco International Airport embodies the perfect blend of technology, safety, design, and comfort, thus positioning itself as one of the major Hubs in Mercosur. 

The Architecture

The new airport was thought to be an architectural symbol for Uruguay. A huge three-curve roof covers nearly 400 meters of the entire length of the building and projects over the ends to finally rest on the floor. The continuous lines and the wavy airport geometry as a whole purport to resemble the natural landscape of the country.

The roof has a maximum width of more than 130 meters and protects the departures hall, the check-in sector, and the balcony. The total area reaches 45,000 square meters (more than 4 hectares).

The architectural project sought to create clearness and a strong feeling of spaciousness in the public areas. To do so, the upper part of the building is featured by an all-enveloping sloping glass cover with approximately 8,000 square meters in area that enhances natural lighting and gives an open view to the apron and the premises.

At the same time, the public areas for departures and arrivals, as well as the internal balcony, were designed in a two- and three-height layout, connected by elevators and four escalators.

The new airport building is parallel to the main runway (06-24), which has been extended to 3,200 meters long. Together with the terminal, an aircraft apron was built for passenger boarding and deplaning operations using four telescopic bridges.

A baggage handling system is available for departures. It is equipped with automated belts to transfer baggage on hold from the check-in area to the departures’ baggage yard. The arrivals sector has three baggage claim belts. One of them is a double-carrousel system and will be used to serve large aircraft.

National Route 101 will be the access to the new terminal. The complex is divided in three sectors. A central oval surrounds and contains the public parking lot and the two lateral accesses.

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Lunes, octubre 5th, 2009

Historic visit to Darwin Cemetery in the Malvinas Islands

eduardo eurnekian malvinasEverything went as planned by the Commission of Relatives of the Victims Fallen in Malvinas and the South Atlantic Islands. The first group of 170 people had the chance to visit the graves of their beloved ones and participate in the formal opening of the Cenotaph built in such location.
They landed on board LAN flight in Mount Pleasant, the British military base some minutes after 9 AM. They were seen out by Cristina de Kirchner in Río Gallegos. There she greeted all the relatives. Immigration formalities were speeded up as to have every passenger on the bus that would take them to the Argentine Cemetery in Darwin in just fifteen minutes.

To reach the cemetery, they had to take a 40-kilometers ride along a ragged gravel road. British Police officers could be seen twice on the roadside.

The request of the families, the press included, was to observe what had been agreed during the bilateral meetings, and that meant not interfering with such an intimate ceremony.

The delegation made by 170 people mainly comprised the relatives of the victims of General Belgrano wreckage, nearly 110 people. It is worth pointing out that most of them were visiting Malvinas Islands for the first time.

Unfortunately, the British Authorities did not give them the required permission to visit the islands before arguing that the soldiers had not died in the territory. Time went by and their behavior changed. It could be said that the weather helped everyone yesterday. It had snowed early in the morning but later on the temperature climbed to approximately 5 degrees and the wind was 35 kilometers per hour. British officials offered the families an additional coat to those who wanted them before entering the cemetery, provided they promised to give them back upon leaving the place.

The cold did not hit as strong as the mere thought of the Argentine soldiers trying to resist and fight there between the months of April and June, not in October, when the weather is colder, without suitable clothes or food. The pain and sorrow of the families increased as they thought about the suffering of their beloved ones fighting for their country under such conditions.

There were families from Palpalá, as is the case of Silverio Quispe, the father of first officer Ángel Quispe. He had the chance of traveling to the Malvinas Islands for the third time. There were also families from La Tablada, as is the case of Delmira Hasenclever. Her son, Julio Rubén Cao, a teacher, was called to serve the Army in 1982. After suggesting him not to go, he told her, “How am I supposed to teach students if I evade my commitment with my Country.”

Time flew too fast that morning. Perhaps, it was just the opposite of what happened 27 years ago. All the families could get close to the 237 tombs. Out of them, 101 were identified, while the rest only bear the legend «Argentine Soldier known only onto God. »

At 2 PM, the way back to Mount Pleasant started very slowly. The plane took off two hours later to Río Gallegos immerse in sorrow and emotion, blended with silence and anger contained for what happened 27 years ago.

Negotiations were required even to agree on the cross height.

On July 14, 1999, during the last six months of Minister Di Tella in office, Argentina and the United Kingdom signed an agreement to authorize the creation of the monument that was finally opened last weekend.

There followed many ups and downs in the relationship between both countries. The islanders imposed as a condition that no symbol such as the Argentine flag could be there. There were differences concerning the cross height too. The big cross is three meters high. Yet, the islanders did not want it to be seen from the distance.

After watching a documentary about Malvinas on TV, executive Eduardo Eurnekian was worried for the delay and the condition of the cemetery. The cenotaph arrived after a nearly one-week sea voyage. It was mounted by a British company (that was another obstacle, as they did not allow having it assembled by an Argentine company).

Everything was financed by the majority shareholder in Aeropuertos Argentina 2000 and its cost climbed to nearly one million and a half dollars. He paid for the plane that transported the press last Saturday as well.

The monument designed by Architect Carlos Daprile demanded 200 tons of iron. There are 24 granite plaques, each symbolizing a province of Argentina, which have the names of all the fallen soldiers engraved. They also include the legend: «The Argentine Nation, in memory of all the Argentine soldiers fallen in duty in 1982. »
(Source: Diario Financiero)

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Lunes, octubre 5th, 2009

Eurnekian participated in the V Annual Meeting of the Clinton Global Initiative

clinton-global-initiative-2009The president of Corporación América, Eduardo Eurnekian, has participated in the Fifth Annual Meeting of the Clinton Global Initiative (CGI). The event held in September in the city of New York focused on the ways in which CGI members can make smart investments in infrastructure and human capital.

“Whether it entails offering dwellings to those who do not have one, education to the poor, or green technologies to solve our climate crisis, the solutions to the most pressing challenges ahead require our investment in infrastructure and human capital,” President Clinton said. “Governments and companies alike should make smart investments in projects and labor force to spread the benefits of economic growth to millions of people around the globe.”

Eurnekian participated in the formal opening of this event and showed his strong and sincere interest. Moreover, he also attended the special conference given by a panel of keynote lecturers, including the US Secretary of Labor, Hilda D. Solís.

Solís focused on highlighting the commitments undertaken by the members in an effort to put an end to human traffic and slavery.
The US Secretary of State, Hillary Clinton, was present for the closing ceremony of the Fifth Annual Meeting of the Clinton Global Initiative. There, she stated, “People do not have to share the same political flag or the same religion. Moreover, they do not need to speak the same language to work hand in hand and bring about an impact. We all have lessons to learn from each other. We need a shared mechanism to attain common goals.”

Then, President Clinton profited from the occasion and announced the date for the third meeting of the Clinton Global Initiative University (CGI). This time the event will be held at Miami University on April 16-18, 2010.

During the meetings of the CGI, executive Eduardo Eurnekian presented the program developed by Corporación América. One of its companies, Fruitful Armenia, undertook a number of ventures within the framework of a social program launched in the city of Arevadasth in Armavir, Armenia, to improve the quality of life of its inhabitants.

The tasks envisaged focused on providing the city with the basic infrastructure elements needed to help its people plan a better future in that town. Eurnekian’s involvement has given Arevadasth access to drinking water taken from a well, kindergarten, first aids room, an ambulance and an incubator for the local maternity hospital. There was nothing before.

In addition, he donated 100,000 cans of special nutritive food for the least favored children. The social program was launched in 2006 and has demanded so far an investment of 1,120,000 dollars.

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Jueves, septiembre 24th, 2009

Eurnekian met with the president of Chile

eduardo-eurnekian-bacheletEduardo Eurnekian, the president of Corporación América, met with the Hon. President of Chile, Mrs. Michelle Bachelet. Such encounter was organized within the framework of the annual meeting of the Council of the Americas, which was held in the second half of the month in New York City. The Head of State from our neighbor country made arrangements and squeezed her agenda to meet with the Argentine executive. Thus, both profited from the occasion to analyze the major issues included in the bilateral business agenda.

Executive Eduardo Eurnekian and President Bachelet assessed the progress achieved in the Biocean Corridor project that will connect Argentina and Chile. The initiative envisages the construction of a huge tunnel beneath the mountain and the startup of a power-driven railroad that will connect both countries through the Andes Range. The project will demand an investment of 3 billion dollars.

The tunnel, with its 52 Km. in length, will be built at approximately 2,300 meters above sea level. It will facilitate operations 24 hours a day, 365 days a year. Moreover, it will solve the many problems currently experienced to transfer goods using Cristo Redentor road crossing.
Bachelet was welcomed at the headquarters of the Americas Society and Council of the Americas in Park Avenue by Susan Segal and a select group of business executives, including Eduardo Eurnekian, Enrique Iglesias from the Ibero-American Summit Secretariat, and José Miguel Insulza as Secretary General of the Organization of American States. They also invited banker William Rhodes to share Bachelet’s table.
After the reception, they all went to the main dining room where approximately 150 people were waiting to hear Mrs. Bachelet’s address. In her presentation, the president highlighted, “We were prudent when raw materials offered us wealth some years ago; we saved resources for the hard times, and we had to endure the political pressures that wanted to force us to spend that money. However, we were fully aware of the necessary and responsible actions we had to take.

This has helped us lessen the impacts of the international crisis and foster the social benefits for our people. This is why we could rise pensions, protect workers, build hospitals, and invest more than ever before in education and dwelling for those who needed them,” the President added.

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Miércoles, septiembre 23rd, 2009

Eurnekian opens a new airport in Montevideo

inauguracion-carrascoThe new International Airport in Carrasco will be formally opened on the first days of October. The new terminal will have four times the capacity it currently has and its construction has represented an investment of 165 million dollars for the concessionaire responsible for its construction, the Argentine Corporación América.

Accordingly, the new airport terminal in Uruguay will be fully operational as of November 15. The new terminal is nearly four times bigger than the current one and will have capacity to accommodate three million passengers a year.

“Many friends and families still go to welcome or say good bye to their beloved ones in Uruguay. Therefore, the terminal offers large spaces to the passengers,” said architect Rafael Viñoly, the individual responsible for the project, in an interview with El País newspaper.

The formal opening of the airport will count on the presence of the President of Uruguay, Tabaré Vázquez, and the head of Corporación América Group, Eduardo Eurnekian, among others.

The airport, which is just a few kilometers from the City of Montevideo, has an area of 45,000 square meters and its 400-meter dome gives the premises a unique appearance.

The outdoors area adjacent to the central building is divided in three sectors. Thus, there is a parking lot for the public with capacity for 1200 vehicles, and two restricted-access areas for the technical and the service departments.

The interior is featured by large spaces and the natural light that gets inside through the glass area of 8000 square meters that erects on its upper level.

The terminal will have eight boarding gates, out of which four will have bridges with 20 remote positions to facilitate passengers’ circulation.
Baggage handling will be completely automated. In the case of departures, the belts will transfer the baggage on hold from the check-in area to the departures baggage yard.

The arrivals sector will have three baggage claim belts. One of them is a double-carrousel system and will be used to serve large aircraft.
In addition, the airport will have a shopping center or “Duty-Free Shop” that, according to the company, will be “the largest in South America” and will have an area of 3000 square meters.

Source: Infobae

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Viernes, agosto 28th, 2009

Summit of world economic leaders at the Council in Buenos Aires

eduardo-eurnekian-counsilMinisters, governors, executives, and economists gathered last August 26 for the seminar of the Council of the Americas. The event was organized by the Americas Society Council of the Americas and the Argentine Chamber of Commerce, with the support of Aeropuertos Argentina 2000, a member of the business group led by Eduardo Eurnekian.

The local elite and many major icons of the global economy participated in the session of the Council of Buenos Aires, thus turning it into a forum for serious top-level discussions. One of the panel members concluded his address with a phrase that could well describe the spirit that prevailed during the event: “One day, a group of men made the surprising decision of being reasonable,” Jorge Luis Borges.
During the seminar, the lecturers concurred that the international crisis has already reached the deepest bottom and that this new era in the economy is a new era for Argentina.

This time, the theme for the meeting was “Argentina: Economic and political prospects.” A number of ministers, governors, officials, and business executives addressed the audience. In addition, the chair of the Americas Society Council of the Americas, Susan Segal, and the Western Hemisphere Department Director of the International Monetary Fund (IMF), Nicolás Eyzaguirre, also addressed the participants.

The president of the Argentine Chamber of Commerce (CAC, from the Spanish: Cámara Argentina de Comercio), Carlos De la Vega, welcomed the audience and said, “We need to find ideas that may help us build. We are more interested in the future than in the past. We need projects rather than leaders. We want to see the political and social leaders help us in our effort to find common views, as this is what most of the Argentine society is demanding.”

On her part, Susan Segal, the host of the event, stated, “The world underwent a severe recession from which it is just beginning to recover. We are strongly confident. Besides, we can see the markets have recovered more swiftly than the actual economy. We cannot still assert how this recovery will be like or how job creation will continue. Yet, I believe the emerging economies should experience more growth than the developed countries.”

For the director of the Central Bank, Martín Redrado, Argentina has not been severely affected by the international crisis. This is due to the definition of the correct policies and a sound financial system. “We have not experienced any financial nightmare and savers could make the right decisions in the light of their personal situation. Then, he concluded: “Both the banks and the dollar are no longer a problem for Argentina or its citizens. We need to develop flexible frameworks based on our reality. Yet, they need to be strong. It has not been merely luck; there was a good underlying economic analysis.”

In his address, the IMF director, Nicolás Eyzaguirre, asserted that the international crisis that started in September last year has been “the most severe one after the Second World War,” where “the free fall came to a halt,” and there are “regions in the world where the elevator is moving upward”.

Eyzaguirre warned that although the big hold-off ceased, there could be new storms, though not as strong as the ones from this last year. He also pointed out that the scenario is not the same all around the globe. Therefore, some countries are improving its performance, while others “are not falling as deep as the European countries or even the United States, and others “are still amid a strong hold-off, as is the case with the countries from Eastern Europe.”

He ensured, “There should be less official presence and a stronger involvement of the private sector.”

He also believes “the Western Hemisphere should move backward, while the Eastern Hemisphere should give a step forward. As consumers, the time for the prevalence of markets such as the Chinese, Brazilian, Indian, and Russian markets has come.”

Moreover, he added that, “Latin America was better positioned to resist the impact in the light of its sound financial system. In the region, the Caribbean and Mexico are still quite affected. Yet, prospects are better for the commodities producing countries such as Brazil, Peru, Chile, and Argentina, after the rise in demand from China. This shows us a quite heterogeneous prospect.”

To conclude, he asserted that, “The art of economic politics is to carefully think about the parameters and dials as to position ourselves the best we can.”

Ernesto Gutiérrez Conte president of AA2000, described the approach to the IMF as a positive event because the agency has “matched the times. It has changed. It has a clear understanding that the growth we have experienced in our country in the last few years has been the result of heterodoxy and not of the orthodoxy they promoted in the last decade.” He also expressed his concern about the political confrontation the country is experiencing.

The Ministers’ Head, Aníbal Fernández; the Governor of the City of Buenos Aires, Mauricio Macri; the Council Head, Susan Segal; and the president of the CAC, Carlos De la Vega, formally opened the event. They were followed by the addresses of the governors of the provinces of Salta and Chubut, Juan Manuel Urtubey and Mario Das Neves, respectively.

As far as panels are concerned, the first was made by successful entrepreneurs, namely: Susana Balbo from Dominios del Plata winery; Martín Migoya from Globant; Marcos Galperín from Mercado Libre, and Adolfo Rouillon from Congelados del Sur.

The second panel discussed the vision of the law-making leaders, and gathered Francisco de Narváez (Representative from Unión PRO); Agustín Rossi (Representative from Frente para la Victoria); Ernesto Sanz (Senator from the Radical Party or UCR). Eduardo Amadeo, president of the Social Observatory, moderated the panel.

In addition to the panels, the event was featured by the following keynote lecturers: Débora Giorgi, Minister for Production; Martín Redrado, president of the Central Bank; Nicolás Eyzaguirre, IMF Director of the Western Hemisphere Department; Mario Blejer, Director of Banco Hipotecario, and Amado Boudou, Minister of Economy.

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Martes, agosto 25th, 2009

Darwin cenotaph is to be formally opened in October to pay homage to the fallen soldiers during the Malvinas War

eurnekian-cenotafio1October 3 and 10 are the dates chosen. Then, approximately 500 relatives from Argentine soldiers fallen in the Malvinas War will travel to the Islands to open the cenotaph in Darwin cemetery. The monument was donated by Eduardo Eurnekian, president of Corporación América.

Eurnekian committed to build this site as a humble recognition of a sad episode that is deeply felt by the entire people of Argentina. The historic event in question was the Malvinas War, where thousands of young boys participated and sacrificed their lives to defend their and our homeland.

In the light of such an important development in Argentina, Mr. Eurnekian believes that the suffering of these young soldiers’ families deserves a place where they can feel themselves in communion with their beloved ones.

The monument that will be formally opened by the families was erected on April 8, 2004.

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Lunes, junio 8th, 2009

Former President Clinton’s lunch with Eduardo Eurnekian and Ernesto Gutiérrez Conte.

clintonFormer US President, Bill Clinton, arrived in Argentina, where he expounded upon Global Crisis and both countries –US and Argentina- challenges. Almost 1,000 people attended the conference that Clinton gave on behalf of the “Clinton Foundation”. Among the attendants, there were businessmen, Supreme Court members, politicians, diplomats, academicians, and high-level government employees.

But right before the conference, Clinton –who governed US between 1993 and 2001-, had lunch with a selected group of 20 businessmen with a strong presence from Argentina and Latin America.  He shared table with Julio, Gerardo and Adrian Werthein (event organizers and owners of the insurance company La Caja), Eduardo Eurnekian (Corporación América Director), Ernesto Gutierrez Conte (Corporacion America and Aeropuertos Argentina 2000 CEO), Enrique Eskenazi (Petersen Group President), Jorge Brito (Banco Macro and Adeba President), Hugo Sigman (Elea y Bagó laboratories owner) Eduardo Elztain (IRSA Group President), and Juan Carlos Lopez Mena (Buquebús owner).

During lunch, Clinton showed his interest in the Argentinean legislative elections, although the global crisis was the topic that captured the conversation. After lunch Enrique Ezkenazi told, that former president Clinton “showed optimism about the future in relation with the economic crisis. Former President Clinton said that US and Europe are taking precautions to improve the situation”.

Jorge Brito said that Former President Clinton explained what his vision about the future of economy, US crisis and his effects in the world are, and that he assured that the worst part of the crisis has passed.

After Lunch, Bill Clinton walked toward the auditorium of the Hilton Hotel where, for almost 90 minutes, he spread the Clinton Global Initiative’s work, which is a project of the Clinton Foundation that brings together a community of global leaders, university students, and private citizens to identify and implement innovative solutions to the world’s most pressing challenges, including poverty alleviation, climate change, global health, and education.

During the conference, in front of almost 1,000 people, former President said “the worst crisis seems to be over”. He also reminded the origins and the different stages that the crisis went trough, and he recognized that “We should have prevented the repossession hearings, but we didn’t”.

Later that night, when he shared dinner with Argentinean President Cristina Fernández and his husband, Nestor Kirchner; Buenos Aires Governor, Daniel Scioli; Secretary of State, Sergio Massa; Minister for Public Investment, Julio de Vido; businessmen and event organizers, Julio, Gerardo and Adrian Werthein; and Aeropuertos Argentina 2000 CEO, Ernesto Gutierrez Conte, Former President Clinton said how much he enjoys Argentina. He also praised US Ambassador’s Earl Wayne job in Argentina, , who is leaving Buenos Aires to hold his new diplomatic assignment in Afghanistan.

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Viernes, mayo 29th, 2009

Remodeling of the Córdoba International Airport

cordobaAeropuertos Argentina 2000 has embarked on a process to modernize, convert, and expand the existing airport infrastructure, with the ultimate goal of connecting the largest number of cities possible through an efficient airport network. This is the reason for the $5.3 million investment earmarked for construction of a new meteorological station and a new beacon system and for remodeling the electrical substations at the International Airport of Córdoba Ambrosio Taravella.

The new meteorological station will cost a total of $3.6 million and consist of the construction of a 160-square meter building, a 70-square meter storehouse, a meteorological observation camp, a remote meteorological station, observation instruments, and access roads.

This new meteorological station will replace the existing one, where hangars will be built in the near future.

The new beacon system requires an investment of $1.7 million. This work includes new circuits, replacement of isolation transformers and runway lightning. The electrical substation will be remodeled as well. New electrical equipment, voltage transformers, and a power cable to feed the new meteorological station will be built.

The remodeling process will last seven months, during which time the airport will be open and working normally.

This new stage in the remodeling process is part of the Master Plan that Aeropuertos Argentina 2000 designed for Córdoba’s Airport.  Last year, the Company earmarked $15 million to rebuild 6,700-sqaure meters of tarmac.

Cordoba’s Airport was reopened in May 2006 after a remodeling plan that required an investment of $50 million. Due to those works, the airport’s annual traffic grew from 1.1 million to 2.4 million people. The airport occupies 19,000-square meters and utilizes state-of-the-art technology in security and services.

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Viernes, mayo 29th, 2009

Refurbishment at Córdoba International Airport

Aeropuertos Argentina 2000 (owned by Corporación América Group and managed by Eduardo Eurnekian) plans to modernize, transform, and expand the existing airport infrastructure. In addition, it intends to connect the largest number of cities through an efficient airport network. This is why it will invest $5.3 million in the new project phase at Ambrosio Taravella International in Córdoba. The plan envisages the construction of a new weather forecast station, a new marking system, and reforms in the electric-power substations.

The new weather forecast station will cost $3.6 million. The project will include the construction of a building with an area of 160-square meters, a storehouse of 70 square meters in area, a weather observation field, the installation of a remote weather forecast station, observation and measurement instruments, fences around the perimeter, and access roads.

The new weather forecast station will replace the current station. In turn, the latter will be torn down, as the space will be used to build new hangars on a future date.
On its part, the plan for the new marking system will demand an investment of $1.7 million. The project comprises new circuitry wiring, new isolated transformers, and beacons at the borders, heads, and ends of the runway. In addition, the electric-power substations for the terminal and Head 18 (North) will undergo refurbishment. In addition, halls will be extended. Moreover, new electric equipment, voltage transformers, medium- and low-voltage cells and panels will be installed, together with a new feeding cable from the Terminal building to the new electric-power room at the runway head.

The new weather forecast building will be fed by this substation, which will also include new piping and concrete bases for the new weather forecast equipment.
The project duration is estimated in 7 months. During such period, the airport will operate normally.

This new project phase is part of the master plan devised by Aeropuertos Argentina 2000 for the airport located in this mediterranean province. Within this framework, $15 million were allocated last year to rebuild 6,700 square meters of slab on runway 18/36. Besides, the margins were paved using asphalt concrete.

Taravella airport was opened again in May 2006. The projects that demanded an investment of nearly $50 million allowed for an annual traffic rise that grew from 1.1 million to 2.4 million passengers. At present, the airport has a total area of 19,000 square meters. In addition, it relies on the latest safety and customer service technology.

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Miércoles, mayo 20th, 2009

New Aqueduct Brings Drinking Water to Villages in Chaco

acueductoUnitec Agro, the Agro industrial Business Company that is part of Corporación América, is ready to inaugurate an aqueduct in the northern province of Chaco.

U$ 40 million have been invested in the 273 Km. of canals that are going to be constructed. As well as being used for irrigation, the aqueduct will bring water to several villages in the region. So, as soon as the aqueduct begins to operate, the villages of Laguna Limpia, Ciervo Petizo, Presidencia Roca, Capitán Solari and Las Garcitas, will have a supply of drinking water coming from the Bermejo River.

Chaco Province Governor, Jorge Capitanich, visited the aqueduct with a group of Moroccan businessmen and government employees. The Governor said to the press that this aqueduct “will boost agricultural business and improve human lives by bringing drinking water to many people”.

Minister of Production, Aziz Akhannouch, headed the Moroccan delegation that arrived to Chaco who are interested in local production, particularly in cotton cultivation and stockbreeding genetics. This is the reason why they visited Unitec Agro, where they observed the crops, the cattle, and the cotton plantations. “It is a very important visit for us, we could witness how one of the biggest farms in Argentina works, and we are taking back lots of important information, such as water treatment. “, said the African Minister.

Unitec Agro achieved a vertiginous development thanks to the vision of its leaders, who have focused on investigation, expansion, international presence and diversification activities, all of which, added to the spirit of its employees -a group of interdisciplinary professionals- turned a simple agro industrial project into an enterprising group.
Following its international expansion policies, Unitec Agro has recently opened a new Company in Morocco, “Lands of Morocco”, that will basically exploit Moroccan farmlands.  Unitec Agro’s main objective is to set up in the Maghreb (The North African Common Market) to develop different business lines.

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Domingo, mayo 17th, 2009

CAISA Issues Bonds to Remodel Airport

Aeropuerto Laguna del Sauce, Punta del Este

Aeropuerto Laguna del Sauce, Punta del Este

Consorcio Aeropuertos Internacionales SA (CAISA), part of Corporación América and concessionaire of Laguna del Sauce Airport in Punta del Este, will issue bonds for U$25 million to finance the above-mentioned airport’s remodeling project.

The bonds, which are being qualified by Fitch, will be denominated in US dollars. Ficus Capital, an investment banking and securities firm that offers quality advisory services, is the organizer of the operation.

The maturity of CAISA bonds will be ten-years, similar to the ones issued in April 2008 by Puerta del Sur –Carrasco’s Airport concessionaire and also part of Corporación América. The latter were earmarked to the construction of a new terminal. Along with the bonds, CAISA’s will have a trust fund to bring transparency to the operation.
Corporación América, which will administrate Punta del Este’s airport until 2019, bought CAISA in December 2007.

Laguna del Sauce airport’s concession includes the Free Shop and is the second that Corporación América manages in Uruguay, since they also control International Airport of Carrasco in Montevideo.

Corporación América, which is the main shareholder of Aeropuertos Argentina 2000, currently manages about thirty airports in Argentina as well as other terminals in the world, such as Guayaquil Airport in Ecuador, and Zvarnots Airport, in Armenia.

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Lunes, mayo 11th, 2009

Fin del Mundo Winery: Corporación America’s new investment

bodegaBusinessman Eduardo Eurnekian is diversifying his business, and this time he gets into winery commerce in Argentinean Patagonia.

With a U$50 million investment, Eurnekian Family and Viola Family became partners. The Violas own the winery since 1999.

Eduardo Eurnekian’s nephew, Matías Gainza Eurnekian, who at present is Unitec director, will be in front of the new family business. Unitec belongs to Corporación América and has a portion of land where cotton, cereals, and cows are produced in the northern Argentinean province of Chaco. Unitec also has a 300-hectare land in Armenia where Cognac is produced.

The total investment is earmarked to increase the winery potential, develop more premium lines, bring the winery’s products to new international markets, such as Italy and USA and consolidate the internal market as well . On the other hand, a touristic project is going to be developed with a winery new façade, new offices, bigger tasting rooms, a hotel and a restaurant.

Fin del Mundo Winery was born when the Violas planted the first vineyards in a deserted and wind swept portion of land. Ten years have passed since then, and today there are seven wineries in San Patricio del Chañar, a region located only 50 Km. to the north of Neuquén City.

bodegas2In spite of the above, Fin del Mundo is not only the pioneer but also the most important winery in the southern wine route. The winery stands in an 870-hectare portion of land and produces 8 million liters of wine a year. Fin del Mundo is equipped with state-of-the-art technology: the wine is produced in 200 stainless steel tanks with temperature control for fermentation, 2200 French and American oak casks, 10 oak barrels with temperature control, and 1000 concrete sinks for conservation.

Fin del Mundo succeeded to insert the brand into the Argentinean market since the first production of the winery, in 2003. One year later it started to export to several countries, USA and Canada being the most important buyers. Today, Fin del Mundo  exports its production to 30 countries.

The winery will continue to seek advice from Michel Rolland, the legendary expert in wines who is, since 2004, Fin del Mundo’s consultant.

Neuquén Province is not new to Eduardo Eurnekian, who had already installed in the region through Aeropuertos del Neuquén, the concessionaire of Neuquén City’s airport.  Regarding  wine business, Eurnekian has participated in wine entrepreneurships in Armenia and Morocco in the last ten years.

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Domingo, mayo 10th, 2009

Bi-Oceanic Corridor Project Presented in Trinidad and Tobago

tunel3During the Fifth Summit of the Americas held in Trinidad and Tobago between April 17-19, 2009, Corporación América presented the Bi-Oceanic Corridor Project that will connect MERCOSUR to Asian markets.

Former Secretary of State and actual Special Advisory of Corporación América, Rafael Bielsa, was in charge of the presentation during the II Hemispheric Private Sector Forum held in Port of Spain as one of the Forums previous to the Summit. Bielsa was part of the panel “Largest Infrastructure Projects in the Americas “ with Inter-American Development Bank (IADB) President, Luis Alberto Moreno, and Corporación Andina de Fomento (CAF) President & CEO, Enrique García. IADB and CAF are both the main financiers of the project.

With an investment of U$3.000 million, the Bi-Oceanic Corridor will link, trough a broad gauge railroad system, the cities of Luján de Cuyo in Mendoza with Los Andes in the 5th Region of Chile. The 52 Km. tunnel will be built 2.300 meters above sea level and will be open 365 days a year.

“This project can be compared to the Suez and Panama Canals because it will be the first tunnel linking two oceans and five countries, including Uruguay, Brazil and Paraguay”, said Bielsa during his dissertation.

This tunnel is not only a door for MERCOSUR to international markets such as China, Australia and West of USA and Mexico, but will also allow Chile to gain access to European and African markets through the Buenos Aires Port.

Argentina and Chile exchange 7,5 million tons a year trough the actual border crossing, Cristo Redentor. This crossing is 3.200 meters above sea level, and stays closed for almost 2 months a year due to climate. Estimations calculate that in year 2020 these countries would reach, thanks to the Bi-Oceanic Corridor, a bilateral exchange of 20 million annual tons.

Already six companies integrate the holding that participate in the tunnel construction. The Brazilian construction company Odebrecht has lately joined the Chilean Interocéanica, the Argentinean José Cartellone Civil Constructions, the Spanish COMSA, and the Italian GEODATA.

As for the steps to follow, former Secretary of State Rafael Bielsa said that “the holding has signed memos of understanding and the initiative has been declared of national interest by both the Argentinean and Chilean governments”.

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Martes, abril 14th, 2009

AA2000 with the people of Tartagal

The Group known as Aeropuertos Argentina 2000 just like many other companies and organizations is carrying out a solidarity campaign. The purpose is to help the people of Tartagal, in the province of Salta.

The campaign started on February 16 and still continues, as the needs voiced by the Northern Region of Argentina are really overwhelming. The storms and floods of this last summer have had severe consequences. Many people are still homeless and have been left even without the essentials elements to live.

Therefore, we invite everyone who still wants to cooperate. Individuals are invited to bring their donations to any of the 33 airports managed by AA2000. The company has clearly defined an area where anyone can make a contribution.

The collected items will be taken to the House of the Province of Salta (in the city of Buenos Aires) or directly to the province, depending on the distance.

Personal hygiene and cleaning products, kitchenware, water, powdered milk, diapers, non-perishable food, clothes, blankets, shoes, over-the-counter medicines, and mattresses are welcome, among many other elements.

This ill-needed help is still urgent. So, if you can help, do not hesitate and do it. For questions, please call (011) 4326-2456.

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Sábado, abril 11th, 2009

March: A month of openings

Apart from refurbishing operations in most of the airports in the country, Corporación América and AA2000 have been also working inside the airport terminals. There, they have laid the emphasis on their artistic and visual aspects. They have opened several spaces specially devised to exhibit and disclose the works of artists from all over the country.

This is Espacio Arte, a venture undertaken by Aeropuertos Argentina 2000 and Corporación América (managed by Eduardo Eurnekian). The idea was to disclose and promote the work of local artists and establish a link with every corner of the country, as airports serve as a shop-window where any national artist can show his or her work if this is what he or she actually wishes. It is important to highlight that this venture is indeed created as a place where international, national, and local artists can exhibit their work, and where all the people who pass by the terminal may have a chance to admire them.

To begin, we can mention the province of Chaco. On Saturday, March 7, a joint exhibition was opened. It combines the work of the sculptor from Chaco, Mimo Eidman, and that of the artist from Córdoba, Julio Gambero. The exhibition was opened at EspacioArte Resistencia, in the Arrivals Hall of Resistencia International Airport in Chaco. The exhibit can be visited until May 5.

Mimo Eidman chose to present several stunning sculptures and a series of small pieces that blend the strength of wood, on the one hand, and the immortality of bronze, on the other. His work builds on in effects, overlaps, trends, and morphological displays. In addition, it embodies primitivism and archaism to represent these earth-related and ethnical structures.

On his part, Julio Gambero shows in his paintings a deep view of the inner spaces and the common things that surround and accompany his everyday life. He points out that his work “is based on our being immerse in everyday life, where we all sink ourselves and forget what is just next to us, what gives us our identity, and what nurtures our nature.”

On the other hand, on March 17, the exhibition of César López Osornio was opened in EspacioArte at Jorge Newbery City Airport (also known as Aeroparque) in the City of Buenos Aires. Needless is to say the terminal is visited by numerous passengers from all the corners of the country.

Here, the artist shows his “Floating Suns” series, which try to achieve harmony with luminous spheres where color is used with shades and transparencies that cover and enlighten the surface. He also shows Windows, spheres, and gold from the series known as “On the other Geometry,” where he masterfully blends a geometric cosmos.

López Osornio is 78 years old. He was born in the City of La Plata, and his résumé is quite interesting. After graduating from the University of La Plata, he got a grant to continue with his studies for 3 years in Japan. When he came back to the country, he worked at the University of his Home City. However, he was forced to leave everything behind in the seventies and run into exile. Then he worked as a teacher in Venezuela until 1980. Later, he went to Spain. There, he worked at the University of Zaragoza until 1999, when he finally came back to the country. From an artistic viewpoint, it can be highlighted that while the cubist and geometric movements were the predecessors of rationalist architecture in most European countries, the trend was completely the opposite here. And López Osornio was one of the pioneers. He was part of an artistic movement that advocated for a “sensitive geometry” based on the serialization of elemental shapes fitted with a totalizing spirit and an authentic chromatic richness, the use of faltering planes defined by large spots of colors, and the creation of free structures.

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