The company has received a capital injection from private equity group LGT.
Chile and Colombia are the best-prepared countries in Latin America and the Caribbean for public-private partnerships (PPP), according to an infrastructure report.
BNDES has forecast some US$301bn in infrastructure investments throughout Brazil over the next four years.
The Argentine state will have to pay the companies that took part in the concessionaire, including France's Suez Environnement, for terminating the concession in 2006.
The coastal cities of Valparaíso, Viña del Mar and Concón have suffered several service cuts and high turbidity in the water supply, according to a motion.
They tenders are being coordinated by national development bank BNDES.
Mato Grosso state water utility Sanesul is working on closing a concession contract with the city of Dourados.