More than 20 companies submitted bids to build two hydroelectric dams in Argentina, part of a nearly US$ 5 billion project aimed at generating more electricity for the local industry and potentially for export.
The dams would take more than five years to build and would be in the southern province of Santa Cruz and could vitalize the southern half of Argentina, providing power to some areas for the first time.
Argentina's government will pick the winning bids in 60 days and sign contracts a month later; construction is scheduled to begin in June.
The dams will generate 1,740 megawatts of electricity, accounting for about 10% of total national demand for electricity.
Bidders included China Gezhouba Group Corp. in tandem with Argentina's Electroingenieria SA; Brazil's Odebrecht SA together with Argentina's Industrias Metalurgicas Pescarmona SA, or Impsa; Brazil's OAS SA with Hyundai Engineering and Construction Co. Ltd and Argentina's Sociedad Comercial del Plata; Argentina's Helport SA from the Eurnekian family group together with Spain's Isolux Corsan; and China's Sinohydro Corp. in tandem with Argentina's IECSA SA.
Hydroelectric dams currently account for almost 30% of the power generated in Argentina.