The bidding for the concession of the Vía Navegable Troncal (VNT), the Paraná-Paraguay waterway, has entered its decisive phase. Two Belgian companies – Jan De Nul NV, the current dredging operator, and Dredging, Environmental & Marine Engineering (DEME) – remain in the dispute for the 25-year contract, which foresees an average annual revenue of US$ 618.6 million from tolls.
The process, launched in December 2025 by the government of Argentine President Javier Milei, had a previous attempt annulled in February 2025, when only DEME submitted a bid and the Executive accused it of trying to sabotage the tender – an accusation denied by the company. At the time, uncorroborated allegations of favoritism toward Jan De Nul circulated, also denied by the company and the government.
In the current stage, the National Agency for Ports and Navigation awarded 66.2 points to Jan De Nul's technical proposal, in a consortium with Argentina's Servimagnus, and 42.14 points to DEME's. Brazilian company DTA Engenharia, which had registered, did not advance. The final result will depend on the economic offers, yet to be submitted.
However, the process faces challenges. Argentina's Administrative Investigations Prosecutor's Office (PIA) issued a new opinion in May 2026 pointing to administrative irregularities that, according to the body, could entail “criminal liabilities.” The PIA had already warned of “serious irregularities” in the previous bidding. Jan De Nul, for its part, challenged DEME's bid in the current competition.
The waterway, which stretches 1,635 km from the confluence of the Paraná and Paraguay rivers to the Río de la Plata, is vital for the trade of five South American countries: Argentina, Brazil, Bolivia, Uruguay, and Paraguay. About 80% of Argentine exports, especially grains and derivatives, pass through its channels, with emphasis on the port hub of Rosario. The previous 25-year concession was operated by a consortium led by Jan De Nul until September 2021, when the Argentine state took over administration and directly contracted the Belgian company for dredging and signaling.