Paolo Rocca, president of Grupo Techint, published a letter defending Tenaris's actions after losing a tender to supply pipes for the Vaca Muerta gas pipeline. Following criticism from President Javier Milei, Rocca warned about dumping practices by Indian suppliers and their impact on Argentine industry. He emphasized the need to open the economy with protections against unfair competition.
Paolo Rocca, president of Grupo Techint, responded to criticism from Javier Milei's government with a letter published in La Nación, defending Tenaris's position in the tender to supply seamless steel pipes for the gas pipeline connecting Vaca Muerta to the Río Negro coast, a key project for GNL exports.
Tenaris submitted an initial offer of US$2,090 per ton, but upon learning of a lower bid from the Indian firm Welspun, it matched the price, reducing its offer by 24% to preserve long-term operations, though not profitable for this specific contract. Despite this, the tender was awarded to Welspun by SESA. Rocca noted that this loss represents about 60% of the annual volume of the Argentine market for seamless pipes, amid prices lower than previous projects due to a different international context.
Rocca framed the case within the global steel industry's crisis, with overcapacity driven by aggressive policies from Asian countries not following market rules. He listed trade barriers in the United States, Europe, Mexico, Canada, Brazil, and India, such as tariffs and quotas, to protect strategic sectors. He warned that these surpluses are diverted to more open countries like Argentina at dumping prices. While supporting economic opening, Rocca insisted that Argentina must defend itself against unfair practices to provide predictability for investors.
He acknowledged Milei's government's progress, including lower inflation, fiscal balance, reduced country risk, and international support, noting political capital for structural reforms. Grupo Techint invested US$1.4 billion in 2024, US$1.6 billion in 2025, and has committed US$2.4 billion for 2026. Tenaris exports 70% of its production from Campana.
The clash arose when Milei accused Rocca of conspiring against his government after Buenos Aires elections, calling him 'Don Chatarrín' on X. Rocca has previously questioned the indiscriminate opening of imports, especially from China, and in December 2025 reiterated the need to counter its competition, as Trump did.
Rocca concluded by reaffirming Techint's commitment to Argentina: 'The construction of competitive industries demands knowledge, qualified human resources, innovation, sustained investment, and a lot of determination'.
