Mirgor stock faces setback as Ushuaia port project loses status
Published on 11/10/2026 at 01:15 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSPort Project Faces New Uncertainty
- Tierra del Fuego revoked the public-interest status of Mirgor's proposed cruise terminal in Ushuaia.
- The province cited delays, changes at the port and a review of investment priorities.
- A competing private initiative was submitted for a passenger terminal project.
Tierra del Fuego revoked the public-interest declaration for Mirgor's proposed cruise terminal in Ushuaia on October 21, adding uncertainty around a project that had called for an investment of 25 million US dollars. Diario del Fin del Mundo reported the decision on November 2.
Governor Gustavo Melella enacted the reversal through Decree 1825/26, which revoked the earlier Decree 670/25. The provincial government cited the lack of progress in launching a selection procedure or completing a contractual relationship, as well as changes linked to federal intervention at the port and a reassessment of provincial priorities.
Port Decision Changes Investment Outlook
The proposal, presented in late 2024, envisioned a 30-year concession, a 24-month construction period and a 6,800-square-meter passenger building. The planned facility was to include cruise and catamaran services, ticket offices, security and baggage controls, commercial space and port-access improvements.
The decree stressed that public-interest status was only one stage of the private-initiative process. It did not amount to an award or create a contract, leaving the provincial government with authority to reconsider whether the designation remained appropriate.
The decision also comes as the province reviews the institutional and operating situation at the port of Ushuaia. The report said the government framed the review around provincial authority and the need to align future investment with current public priorities.
Alternative Proposal Enters Review
Eco Trade Fueguina submitted a separate passenger-terminal initiative on October 7, which the provincial economic development office sent to the provincial ports authority for technical evaluation. The published information did not include an investment amount or construction details for that proposal.
Mirgor's Business Footprint
Mirgor describes itself as a group with more than 40 years in the market, focused on manufacturing and services businesses that diversify according to customer needs. Its investor site lists operations or corporate locations in Argentina, the Dominican Republic, Ecuador, Uruguay, Paraguay and Panama. The group is headquartered in Buenos Aires, with an industrial location in Rio Grande, Tierra del Fuego. Its broad regional footprint spans industrial activity and services rather than a single product category.
Mirgor at a Glance
- Company: Mirgor
- ISIN: ARP6823S1295
- Business: Manufacturing and services
- Headquarters: Buenos Aires, Argentina
Argentina's broader market context is covered in Current market reports.
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