The project is supported by a $1.3 billion loan from BICE through the Argentine Credit (CreAr) program of the Ministry of Economy, and will allow the company to quadruple its commercial capacity - from 40,000 to 150,000 items - and double the number of products stored and distributed per year, from 4 million to 9 million in 2026.

The Secretary of Industry and Productive Development of the Nation, José Ignacio de Mendiguren, the president of the Argentine Development Bank BICE, Mariano de Miguel, and the mayor of Esteban Echeverría, Fernando Gray, toured the facilities of the new Frávega Logistics Center in the Buenos Aires town of Monte Grande, which had a total investment of USD 12 million. The project, which was accompanied by a $1.3 billion loan from BICE through the Argentine Credit (CreAr) program of the Ministry of Economy, will allow the company to quadruple its commercial capacity - from 40,000 to 150,000 items - and double the number of products stored and distributed per year, from 4 million to 9 million in 2026.

This development It is part of a process of readjustment of the business model that Frávega began in 2015 with the creation of its own “Marketplace”.. In addition to producing and marketing household appliances, both online and in branches, they focus on the sale of items from other suppliers, such as bicycles, tools, baby products, fitness, furniture, camping items, bazaars and decoration.

“Today is a very special day, we are facing a project that is technologically advanced and that is not only useful for the company, but for the entire industrial system of Argentina”Mendiguren assured. And he added: "This is a clear example that when a company invests in Argentina, the economic team led by Sergio Massa promotes that investment with credits and the municipality accompanies it with active policies for production, development and quality employment are generated and we continue to advance in the definitive recovery of our country."

For his part, De Miguel stated: "Between 2019 and 2022, the manufacturing of household appliances increased by almost 50% and in the first quarter of 2023 by 7%. As a development bank we have a strong commitment to promoting companies that invest to grow and become more technological, because they are the ones that boost the economy and generate jobs."

The local mayor, Fernando Gray, said: "We visited a very important company like Frávega, which has been installed in the district and has been generating local labor for several years. The Argentine Development Bank BICE granted it financing so that the company can continue to grow and generate more jobs for the residents of Esteban Echeverría."

The company will also triple its order shipments per day, from 2,000 to 6,000, and will speed up deliveries in 24 hours, which will go from 46% to 80% of its total shipments. In addition, it will increase its staff in the Logistics Center by 20%, which today reaches 270 employees.

Frávega is the No. 1 retail company in home appliances in Argentina, with more than 100 branches and 3,000 employees. Among the companies that belong to Frávega is Electrofueguina SA, which has two plants in Tierra del Fuego. In 2023, it manufactured 315,928 products including televisions, cell phones, air conditioners and microwaves, which were sold exclusively by the company.

Also participating in the tour were the Undersecretary of Small and Medium Enterprises of the Nation, Tomás Canosa, and for Frávega, its General Director, Manuel Sánchez Gómez, and the Director of Administration, Enrique Gómez.