Big Money and Hidden Players in Argentina’s River Project

Argentina is about to pick a company to manage the Paraná River for 25 years, a deal worth up to $10 billion. This waterway is key for moving most of the country’s farm goods to global markets. The race is tight between two groups: one led by Jan De Nul from Belgium, which already runs the river, and another led by Deme from Belgium with U. S. investors. But the U. S. government is raising alarms about possible sneaky Chinese influence behind Jan De Nul’s bid. The bidding rules banned state-owned companies, which would normally block Chinese firms. Yet a U. S. official claims Jan De Nul might be using a local partner, Servimagnus, to hide Chinese state connections. Jan De Nul and Servimagnus deny this, calling the claim a smear to derail the process. The U. S. worries that letting Jan De Nul win could threaten both Argentina’s and America’s security, even though Argentina’s government insists the process is fair and supported by many sectors.Behind this fight is a bigger battle over who controls Argentina’s trade routes. The U. S. has been pushing back against Chinese influence in Latin America, especially after China became Argentina’s second-largest trading partner earlier this year. The Trump administration, a strong ally of Argentina’s President Javier Milei, has made its concerns clear. Meanwhile, Deme’s group got a boost from U. S. officials who approve foreign deals, and even sent Milei’s adviser to Washington to discuss the bidding process. The stakes are high. About 80% of Argentina’s farm exports flow through the Paraná River, making this contract a prized prize. Yet the process has faced criticism. Argentina’s own anti-corruption office spotted “serious and obvious” issues in how the bids were handled. Deme’s team also accused the organizers of rushing the deadline to favor Jan De Nul, calling it biased against U. S. -backed bidders. The debate isn’t just about money—it’s about control, transparency, and who really pulls the strings in Argentina’s economy.