Impsa, the first company to be privatized under President Javier Milei's administration, is aiming to restart its business operations in Venezuela, focusing on hydroelectric projects that were previously halted. Two turbines, originally scheduled for delivery to Caracas, are currently idle in Mendoza. The revival of these projects reflects a shift in the political environment of both nations, as Argentina and Venezuela grapple with their respective transformations under new leadership.

The hydroelectric contracts were first enacted during the government of Hugo Chávez, when Enrique Pescarmona, the head of Impsa, celebrated securing a bid for a significant project. The recent attempts by Impsa to procure necessary authorizations suggest an eagerness to navigate the complicated waters of Venezuela’s current business climate. However, it remains to be seen whether the aspirations of reviving these projects will succeed amid bureaucratic hurdles and an evolving political context that continues to shift.

This move is significant as it highlights not only Impsa's attempts to capitalize on previous investments but also illustrates broader regional dynamics following Milei's election and Venezuela's ongoing economic challenges. The outcome of Impsa's endeavors could impact bilateral relations and investments, signaling a potential rekindling of ties between Argentina and Venezuela that has been fraught with difficulties in recent years.