Milicic S.A.

What Milicic S.A. does

Milicic S.A. is a privately held, family-owned Argentine heavy civil construction and services contractor founded in 1973 by Carlos Milicic and headquartered in Rosario, Santa Fe. The company operates through three business units: Construcciones y Servicios (core EPC, earthworks, civil, industrial, pipeline, and electromechanical works for mining, oil & gas, energy, and infrastructure clients); Milicic Rental (a fleet of owned internationally branded heavy equipment rented with optional operators and maintenance); and Milicic Ambiental (municipal and industrial solid waste management, sanitary landfills, bioremediation of hydrocarbon-contaminated soils, and GIRSU advisory). Its customer base is enterprise-only, with named counterparts including YPF, Pan American Energy, Rio Tinto, Lundin Mining, Barrick Gold, Newmont, AngloGold Ashanti, Hudbay, Arcadium Lithium, Posco, Vale, Profertil, Aeropuertos Argentina 2000, Central Puerto, and UPM, across Argentina, Peru, Uruguay, and Paraguay.

Milicic's commercial model is project-based and tender-driven rather than subscription- or license-based, with approximately 85% of the portfolio tied to private-sector counterparties. The company differentiates on capital intensity (owned equipment fleet providing mobilization speed), talent specialization (the proprietary Escuela de Geosintéticos training program for mining geomembrane installation), and compliance credentials (ISO 9001/14001/45001 trinorma certification, GRI-aligned sustainability reporting, UN Global Compact adherence, A+ credit rating from FIX). Its technology stack is fundamentally physical — heavy earthmoving, mining civil works, pipeline construction, and environmental services — with no disclosed AI/ML, software platform, or digital product layer.

Geographically, Milicic has executed a deliberate multi-country expansion since 2021, establishing Milicic Peru (Lima), Milicic Uruguay S.A. (Montevideo), and entering Paraguay via consortium for the Paracel project. The company has executed more than 800 projects over its 50-year history and employs over 2,000 people, with reported revenue growth of +13.4% in FY2022 and a conservative 0.4x Debt/EBITDA leverage profile. Management remains family-led: Carlos Milicic serves as Board President and his daughter Marian Milicic as CEO since 2006, with a professionalized commercial layer being added through recent external appointments.

Name

Milicic S.A.

Legal name

Milicic S.A.

Website

https://milicic.com.ar

Company type

Private

Founded year

1973

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Milicic S.A. is an Argentine family-owned heavy civil construction and services contractor (founded 1973) providing earthworks, EPC, equipment rental, and environmental services to enterprise clients in mining, oil & gas, energy, and infrastructure across Argentina, Peru, Uruguay, and Paraguay.

Ownership category

akta.pro rank

Product category

Heavy Civil Construction Services

NAICS

Architectural, Engineering, and Related Services (5413), Engineering Services (541330)

SIC

Services-Equipment Rental & Leasing, Nec (7359), Construction Machinery & Equip (3531), Sanitary Services (4950)

akta.pro primary industry

Construction Management & General Contracting (EPCM, Scheduling, QA/QC, HSE) (EUAMAFAJ)

akta.pro secondary industries

Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF), Balance-of-Plant (BOP) & Civil Works for Power Plants (EUAEAAAL), Industrial Cleaning & Decontamination (Hydroblasting/Vacuum/Confined Space) (IMAIACAJ)

Keywords

• Heavy civil construction
• Mining construction services
• Equipment rental services
• Environmental services
• Infrastructure construction

Headquarters

HQ city

Rosario

HQ country

Argentina

HQ region

Latin America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Infrastructure, Operations, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Construction and Services: Large-scale civil, industrial, and infrastructure construction services provided under EPC and other contract modalities to private-sector operators and government clients in mining, oil & gas, energy, and infrastructure.
2. Equipment Rental (Milicic Rental): Rental of heavy construction equipment fleet with or without operators, with or without maintenance services, and with or without transport. Targets construction, oil & gas, steel, energy, and agro-export sectors.
3. Environmental Services: Collection, treatment, and final disposal of municipal and industrial solid waste; construction of sanitary landfills; separation plants; bioremediation of hydrocarbon-contaminated soils; and advisory services for integrated solid waste management (GIRSU).

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Milicic S.A. is an Argentine construction and services company providing large-scale civil, industrial, road, and infrastructure construction under EPC and other contract modalities to operators in mining, oil & gas, energy, and infrastructure sectors. It operates three business units: Construcciones y Servicios (earthworks, massive concrete construction, pipeline installation, electromechanical works), Milicic Rental (heavy equipment rental with or without operators/maintenance/transport), and Milicic Ambiental (collection, treatment, and final disposal of municipal and industrial solid waste, landfill construction, and soil bioremediation).

Product overview

Milicic S.A. is an Argentine construction and services company operating three distinct business units: Construcciones y Servicios (core construction), Milicic Rental (equipment rental), and Milicic Ambiental (environmental services). The company provides integrated solutions for complex infrastructure challenges across mining, Oil & Gas, energy, and infrastructure sectors, offering earthworks, civil construction, electromechanical installations, equipment rental with optional operators, and environmental management services as a unified portfolio.

Differentiator

Problem solved

Functional benefit

Brands

• Milicic Minería: The mining business unit of Milicic S.A., headquartered in San Juan, Argentina, specializing in mining construction projects including lithium, copper, and precious metals operations.
• Milicic Rental

Products and services

• Construcciones y Servicios Core construction and services division providing large-scale civil, road, industrial, and infrastructure projects including earthworks, massive concrete construction, pipeline installation, and electromechanical works for mining, Oil & Gas, energy, and infrastructure sectors. Executed under EPC and other contract modalities.
• Milicic Rental Equipment rental business unit offering construction equipment, earthmoving machinery, loading and transport equipment, mining equipment, height work equipment, trucks, fuel supply, water cisterns, concrete mixers and pumps, with optional operators, maintenance services, and transportation. Targets construction, oil & gas, steel, energy, and agro-export sectors.
• Milicic Ambiental Environmental services division offering collection, treatment, and final disposal of residential and industrial solid waste, sanitary landfill construction, separation plants, urban solid waste management (GIRSU), bioremediation of hydrocarbon-contaminated soils, and advisory services for integrated solid waste management.

Quantifiable outcome

• 215,000 households powered by renewable energy from projects Milicic built
• +3 more outcomes

Named customers24 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Eight partnerships are on record, tiered educational partnership, key local partner, community partnership, joint venture partner, consortium partner, verification partner and standards partner.

• Instituto Vaca Muerta (IVM)educational partnershipOthers · 1 January 2025Associate member of the Instituto Vaca Muerta, an educational initiative for the Oil & Gas sector aimed at meeting growing technical training demand in the region.
• AGV Servicios Mineros SRLkey local partnerStrategic or Co-development Partner · 1 January 2024Local consortium partner for Proyecto Rincón in Salta, working with Rio Tinto on Spent Brine Deposition Facility construction. Milicic described the relationship as one that has been growing and continues to seek new successes together.
• Junior Achievement Santa Fecommunity partnershipOthers · 1 January 2024Partnership with Junior Achievement for educational programs including 'Las Ventajas de Permanecer en la Escuela' in Rosario, with volunteer participation from Milicic employees.
• Vialnortjoint venture partnerStrategic or Co-development Partner · 1 January 2023Joint venture partnership (UTE) with Vialnort for construction of the Los Patos aqueduct for Livent at the Salar del Hombre Muerto, Catamarca, as part of Proyecto Fénix.
• Tocsa-Ecomipaconsortium partnerStrategic or Co-development Partner · 1 January 2023Consortium partnership with Tocsa-Ecomipa for the Paracel project in Paraguay, the largest private investment in the country's history.
• ALPA Servicios Ambientalesverification partnerOthers · 1 January 2023Carbon footprint verification partner. ALPA verified Milicic Minería's carbon footprint measurements for years 2017-2022 using recognized international methodologies.
• Global Reporting Initiative (GRI)standards partnerOthers · 1 January 2023Sustainability reporting aligned with GRI standards. Milicic's sustainability reports are prepared under GRI standards.
• Pacto Global (UN Global Compact)standards partnerOthers · 1 January 2023Milicic adheres to the 10 principles of the UN Global Compact and submits annual Communication on Progress reports.

Scale indicators12 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• José Cartellone Construcciones Civiles: Argentine heavy civil contractor with mining, energy and infrastructure focus and equipment fleet. Direct peer in scope, customer base and self-perform model across Andean mining and Argentine civil works.
• Rovella Carranza: Long-standing Argentine construction firm active in mining, energy and large earthworks. Comparable in size, project type and Argentine mining-heavy project book, with similar reliance on private-sector commodity capex.
• Techint Group: Argentine-founded industrial conglomerate with engineering and construction, steel and oil & gas services operating across Latin America. Closest like-for-like diversified heavy construction and infrastructure peer in Argentina, with overlapping exposure to mining, O&G and energy clients.

Regional players

• Aenza (formerly Graña y Montero): Peruvian infrastructure and engineering conglomerate with mining, energy and concessions exposure. Relevant regional peer for Milicic's Peru operations and cross-border Andean project pipeline.
• Besalco: Chilean construction and engineering group with mining and infrastructure operations across South America. Regional comparable for project type, mining customer base and EPCM service model in adjacent markets.
• Saceem: Uruguayan construction and engineering firm with infrastructure and industrial project experience. Comparable to Milicic's newly established Uruguay subsidiary, sharing regional project economics and customer overlap (e.g., UPM ecosystem).
• Cosapi: Peruvian EPC and construction firm with mining, energy and infrastructure projects across Latin America. Closest regional comparable for Milicic's Peru expansion, with overlapping mining clients such as Hudbay and shared scope on large earthworks.

Broad incumbents

• Acciona: Global Spanish infrastructure and renewable energy group with a strong wind farm construction track record. Comparable as a broader incumbent in renewable EPC and large civil infrastructure, particularly relevant for Milicic's wind franchise.
• SENER: Spanish engineering and construction group active in energy, infrastructure and aerospace. Broad incumbent peer offering EPC and engineering services that overlap with Milicic's electromechanical and energy project scope.
• VINCI Construction: Global construction arm of VINCI with civil engineering, energy and infrastructure capabilities. Large multinational incumbent operating at the higher end of the same value chain, defining the upper bound on competitive intensity for Milicic.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/milicic-sa

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Milicic S.A.