* Bidders must provide half the project's finance
* Two hydroelectric plants to be built in Patagonia
BUENOS AIRES Jan 9 Five consortiums including
companies from Brazil, China, South Korea, Spain and France have
presented bids to build two hydroelectric power stations in
southern Argentina requiring an investment of $5 billion, the
government said on Wednesday.
The two plants will be built on the Santa Cruz in Patagonia
and will have a power-generation capacity of 1,740 megawatts,
almost 6 percent of the South American country's current
Bidders include China's Sinohydro Corp and China
Gezhouba Group Corp, Brazil's Odebrecht
and OAS, Alstom of France, South Korea's
Hyundai Engineering and Construction and Spain's
Isolux Corsan, Argentina's planning ministry said.
Fourteen Argentine companies are also involved in the joint
venture proposals. The winner of the contract will be announced
in about three months.
Planning Minister Julio De Vido said the successful
consortium will have to provide at least half of the project's
"That means that all these offers include a financing
proposal for Argentina of $2.5 billion," he told a news
Argentina remains virtually locked out of global credit
markets more than a decade since it staged the biggest sovereign
debt default in history.
The government hopes building work on the power plants --
one of which will be named after late former President Nestor
Kirchner -- will start in the second half of the year and be
finished in five-and-a-half years.