The Argentinean government will carry out feasibility studies on bids over a period of 21 months.
On completion, the dam cum power plant on the Uruguay River will produce about 2GW of power.
Construction of the plant will take five to six years and the facility will be operational by 2018.
Argentinean planning Minister Julio De Vido said that this will be the first bi-national hydroelectric project by the two countries.
Both nations will work together to secure finance for the project, reports the Wall Street Journal.
CNEC Engenharia SA, ESIN Consultora SA y PROA SRL; Consorcio Internacional de Empresas Consultoras del Rio Uruguay; and Consorcio Energetico del Rio Uruguay are the consortia bidding for the project.
