Argentina Receives Five Bids to Build Two Dams Worth $5 Billion

Argentina opened five bids today from companies interested in building two dams worth $5 billion in the southern province of Santa Cruz.

China Gezhouba Group Co. and Sinohydro Group Ltd. of China, Brazil’s OAS SA and Construtora Norberto Odebrecht SA, Argentina’s Industrias Metalurgicas Pescarmona SA and Eduardo Eurnekian’s Helport SA were among the companies that each paid $500,000 for the right to bid in the auction, said Julio de Vido, an official with the Planning Ministry.

The dams will produce 1,740 megawatts and companies have until Feb. 21 to submit financing letters.