Argentina will receive "its largest investment so far this century", made by Australian company Fortescue to produce green hydrogen. This was announced on Monday in Glasgow, on the sidelines of the COP26 summit on climate change, where Argentina's president Alberto Fernández is one of the world leaders in attendance.

The announcement was made by Foreign Minister Santiago Cafiero, together with former Argentine rugby national team's captain Agustín Pichot, current Latin America's head for Fortescue. The news came after an encounter between Fortescue's non-executive chairman Andrew Forrest and president Fernández.

As announced, a 8-billion dollar investment will be made for the construction of a plant in the province of Río Negro, in Argentine Patagonia. In the first stage, more than 4,400 people will be hired; in the second stage, 11,000 people will be hired, minister Cafiero detailed.

Green hydrogen is one of the energies of the future, and is fundamental to reduce carbon emissions, sources emphasized.

In November 2020, the Argentine president had already held a meeting via video conference with Fortescue Metals Group executives, who had expressed their interest in investing in Argentina in the field of renewable energies and environment-friendly minerals production.