BUENOS AIRES — Edgard Tenembaum, Paris-based producer of Walter Salles’ “The Motorcycle Diaries,” is making his latest incursion into Latin American filmmaking with “Escafandra.”

Directed and written by Pablo Reyero, whose multi-prized 1997 shanty life portrait “South Dock” established him as a seminal figure in the new Argentine cinema, “Escafandra” is structured as an international co-production between Tenembaum’s shingle Tu Vas Voir, Reyero’s Oceano Films and Germany’s Niko Film.

It has just tied down a top-notch Argentine cast: Leonardo Sbaraglia (“Red Lights”), Carlos Belloso (“The Holy Girl”) and Mariana Anghileri (“Aballay”).

In it, Sbaraglia plays Pedro, who returns to his childhood town to come to terms with the violent suicide of his father (Belloso), while his mother (Cecilia Rossetto) and sister wage a silent war with his father’s concubine (Anghileri).

One of the Argentina’s most artistically ambitious films set to shoot in 2012, “Escafandra” mixes past, present and future, Greek myths, ghouls, beasts and a dream-like narrative, Reyero said.

“An intimist story with elements of science fiction, eroticism and horror,” in Reyero’s words, “Escafandra” is the director’s attempt to exorcize his own father’s violent suicide and his own painful and surrealistic experiences dealing with it, he added.

“Escafandra” will roll September in HD in Villa Gesell, Buenos Aires province. Film will use “realistic” special effects in the style of “Let the Right One In,” Tenembaum said.

Reyero’s “The Southern Cross,” a tough drug heist fall-out drama, played Cannes 2003 Un Certain Regard.