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Peru Port Project Attracts Global Investor Interest
13 Oct
Summary
- Peru's new port project valued at $844 million is drawing international attention.
- Investors from the US, China, and India have expressed significant interest.
- The port aims to rival or surpass the capabilities of existing Chinese-operated facilities.
A new port project in southern Peru, with an estimated cost of $844 million, has captured the attention of international investors. Officials confirmed that companies from the United States, China, and India have approached them regarding participation in this initiative. The project aims to develop a port with a deeper draft than the existing Chancay port, which is operated by China's Cosco Shipping Ports and has facilitated direct voyages between South America and Asia since late 2024.
Peru's regional governor, Rohel Sanchez, announced these developments after signing an agreement with Proinversion, a state agency tasked with promoting investment. While the port, potentially named Corio, could handle general cargo and containers, its use for exporting minerals like copper to Asia has not been ruled out. This project aligns with China's growing investment in Peru, a key market for Peruvian minerals, amidst evolving geopolitical dynamics in Latin America.
Further interest in the project's logistics park development has been noted from South Korean investors, while companies from Turkey and the Netherlands have also shown interest. Separately, China's Jinzhao is scheduled to commence construction on a $405 million port in Marcona, Ica region, in 2027. These developments underscore Peru's strategic push to expand its port infrastructure and enhance its global trade capabilities.
