Argentina Backs Jan De Nul-Servimagnus for Key Grain Waterway Privatization

Argentina’s government on June 5, 2026 recommended awarding a concession to privatize the vital Paraná-Paraguay waterway to a joint venture of Belgium’s Jan De Nul and local firm Servimagnus, dismissing a proposal from DEME. The contract covers dredging and beaconing works along the strategic fluvial transport corridor. The waterway, extending more than 3,400 kilometers across the Paraná and Paraguay rivers, is essential for shipping soybeans and other grains from Argentina, Bolivia, Brazil, Paraguay, and Uruguay to deep-sea ports. Argentina relies on the route for soybean imports processed into oil and meal for global markets. The recommendation now moves toward final adjudication, with the consortium set to maintain the critical infrastructure that underpins a major share of South American agricultural trade.