Minister Luis Caputo, Argentine Economy, announced that three foreign companies had submitted bids 'for the contract' to dredge 'and operate' Argentina's Parana River. This is a vital waterway 'for 'the country's exports of agricultural products.

Two months ago, Argentina, one of the world's largest food exporters, announced its tender.

Three bidders are in the running. "Three bidders have come forward.

In a press release, the economy ministry confirmed that DTA Engenharia from Brazil and Jan De Nul NV of Belgium were also participating companies. The ministry stated that their participation underscores international interest for Argentina's logistics infrastructure.

The tender's terms explicitly prohibited state-owned firms from other countries from bidding, thus preventing Chinese companies from submitting bids.

The CIARA-CEC, Argentina's grain exporters chamber, who collaborated 'with the government to develop the bid specifications,' has stated that the new tender will increase the depth of the Parana River from its current 'level' of 34 feet to 40 feet.

Argentina is the leading exporter in the world of soybean oil and meal. It is also the third largest exporter of corn.

Over 80% Argentina's agricultural exports and agroindustrial exports leave the country via the Parana River. It flows from the agroindustrial hub of Rosario and the surrounding areas to the South Atlantic Ocean. CIARA-CEC expects the contract to be awarded by May. (Reporting and editing by Mark Porter; Maximilian Heath)

(source: Reuters)