Argentina Seeks Privatization of Key Waterway Trade Route

Argentina plans to privatize its portion of the Paraguay-Parana waterway. The 30-year concession aims to enhance the waterway, vital for transporting 80% of Argentina's international trade. Planned upgrades include better navigation systems and stronger measures against drug trafficking, with tenders invited from top maritime operators.

In a bold move to boost its trade infrastructure, the Argentine government announced plans to privatize its segment of the Paraguay-Parana waterway through a 30-year concession.

This vital natural route, spanning the Parana and Paraguay rivers, facilitates access to the sea for Paraguay, Bolivia, and southern Brazil, and channels nearly 80% of Argentina's foreign trade, including major agricultural exports like soybeans, corn, and wheat.

Cabinet chief Guillermo Francos highlighted that the concession entails substantial upgrades, such as dredging and the installation of advanced satellite and radar systems for navigation, alongside measures to tackle drug trafficking. Leading global river-maritime operators are invited to participate in the tender.

(With inputs from agencies.)